���ʵ���

Climate targets could increase demand for critical minerals by as much as fortyfold by 2040. The needs of the defence industry and an increasingly electrified society will further accelerate demand for minerals and the metals derived from them, particularly those used in batteries and electronics. At the same time, mineral availability faces challenges, as production is heavily concentrated in only a handful of countries. Geopolitical tensions, technological disruptions, climate risks and supply chain vulnerabilities further undermine security of supply.

Finland is already a major player in Europe’s mineral sector. More than half of the world’s copper is produced using Finnish technology, and around ten per cent of the world’s cobalt is refined in Finland. The country is well‑positioned to capture its share of the economic potential created by growing mineral demand. According to the Boston Consulting Group, the global growth potential of the sustainable battery value chain and green steel alone amounts to an estimated EUR 27–29 billion by 2035.

Finland now has an opportunity to strengthen the resilience of the entire mineral value chain and secure its position in Europe’s market for critical raw materials. To reach this objective, researchers from VTT, Aalto University and GTK propose four key measures.

“Finland’s mineral sector already boasts strong technology companies. This provides a solid foundation for measures that can accelerate renewal among existing companies, while also creating new products, start‑ups and jobs. This directly impacts on the economic growth of Finland,” emphasises VTT’s CEO Kalle Härkki.

Long‑term research, a multidisciplinary doctoral school and new business creation

Minerals, metals and the industries that rely on them form a critical foundation for Europe’s overall security and resilience, as well as for Finland’s sustainable economic growth. The proposed measures strengthen this foundation and support the implementation of Finland’s national mineral strategy. The aim is to unlock new innovations across the mineral value chain, develop Finland’s competence base and bring entirely new types of actors into the sector.

Achieving this requires the launch of a long‑term research and innovation programme for the mineral economy, complemented by strong international collaboration. This would enable the development of new geodata, technologies, processes and tools tailored to the needs of the mineral sector. A new multidisciplinary doctoral school focusing on raw materials would, in turn, help respond to future competence needs.

“Value creation in the resource‑intensive raw materials sector will rely increasingly on innovative and sustainable solutions, digitalisation and the integration of technologies. Education must rise to this challenge by strengthening foundational scientific expertise, linking teaching to societal sustainability and interdisciplinarity, and providing opportunities for hands‑on application already during studies,” says Ilkka Niemelä, President of Aalto University.

Engaging SMEs to safeguard the availability of critical minerals

Demand for critical minerals is rising faster than recycling alone can meet. The positive impacts of recycling on supply will only become significant after 2040. Therefore, primary production – mining – must also increase. New technologies can reduce the environmental footprint of mining and enable broader utilisation of its side streams.

“Ensuring the availability of minerals requires innovation across the entire value chain. Alongside traditional actors, new companies and their expertise must be brought in. Many companies already have capabilities in areas such as process optimisation for mining operations, but they also have the potential to contribute entirely new solutions,” says GTK’s Director General Kimmo Tiilikainen.

Supporting growth and investment also requires data on mineral deposits and their locations. Producing these geodata sets is also profitable. According to a study by the Finnish Prime Minister’s Office, every euro invested in geodata has generated EUR 2.4 in total economic output for Finland – that is, turnover created across various sectors. The mineral sector is the largest user of these datasets.

Close collaboration between companies and research organisations enables the development of new technologies to improve mineral refining and recycling rates, as well as to create substitute materials. According to the proposal, investing in collaborative networks between businesses, research organisations and international partners – as well as shared technology infrastructures – will accelerate innovation and support economic growth. At the same time, SMEs will gain new opportunities to join major domestic and international initiatives.

“By strategically investing in the mineral and metals sector, we can ensure that Finnish expertise supports not only national security but also a vital industrial base and future jobs,” Härkki notes.

Fennoscandian cooperation – key to strengthening critical raw material security and industrial resilience

Together, the Fennoscandian countries form an exceptional strategic resource: shared raw material reserves, mineral potential, industrial value chains, energy infrastructure and technological expertise that reinforce each other across the entire value chain. Deeper cooperation would make it possible to harness these synergies, strengthen resilience from short disruptions to prolonged crises, and open new business opportunities.

From the perspective of Europe’s key objectives – building defence capabilities and improving industrial resilience – Finland, Sweden and Norway form a tightly connected region that would benefit from long‑term preparedness and operational capability based on shared values and NATO membership.

VTT, Aalto and GTK stress that Finland now has a moment to prove itself. “If we want to be Europe’s trailblazer, we need cooperation, long‑term action and bold decisions. Short‑term projects are not enough – we need comprehensive investments in collaboration, competence and research and innovation activities,” the institutions note.

Proposed Measures by VTT, Aalto University and the Geological Survey of Finland (GTK)

1. Improving the competitiveness of the Finnish mineral sector
   • A long-term research and innovation programme for the mineral economy and international research activities
2. Cooperation to commercialise mineral-sector innovations
   • Operation of strong technology hubs and utilisation of shared research infrastructures
3. Developing multidisciplinary mineral expertise
   • Establishing a new multidisciplinary doctoral school for critical minerals
4. Strengthening Fennoscandian raw-materials and resilience cooperation
   • Developing a joint synergy study on critical raw materials among Fennoscandian countries and a regional preparedness and supply chain model