All aspects of the transition to renewable energy depend on the extraction of critical minerals. The European Union (EU) countries as a whole produce only 3% of their raw material needs, but Norway, Sweden and Finland all have great potential to produce more of the required minerals for the green transition. Finland alone produces 11% of the global demand for cobalt (Trippl et al. 2024). Similarly, Kiruna in Norrbotten, Sweden, is one of the largest iron ore mines and also has the largest deposits of rare earth elements in Europe. Norway is the only country in Europe to open opportunities for deep sea mining, although no licenses have currently been granted.  

The EU Critical Raw Minerals Act has strong ambitions for extraction, processing and importing of strategic minerals, as well as ensuring environmental protection and the use of recycled materials. Accessing the minerals and metals, as well as securing the supply chain and ensuring local benefits from processing and production are all key aspects of the green transition discussion. Consultation and engagement with Indigenous communities across the northern Nordics is required, to ensure a just transition and future resilient communities. The decision of the Norwegian government to explore deep sea mining is hotly debated in both the environmental protection and business sectors – increased competition along already busy coastlines and disruption to endangered species are important concerns. 

For this roundtable discussion, key actors in business, policy, academia and local communities will gather to plot the way forward for accessing and securing minerals for a just green transition.