Despite worldwide activity decreasing to one-third of Q4 2011, exploration in Nordic countries remains unaffected, according to a new study, citing resources tonnage increases for most metals last year. In fact, according to IntierraRMG Resource Sector Intelligence, Nordic countries witnessed a nearly tenfold increase in new copper resources last year, compared with 2011 tonnage.
Citing IntierraRMG State of the Market: Nordic Region report, Managing Director Peter Rossdeutscher noted that rare earth mineral tonnage almost tripled while new nickel resources were 50% of 2011’s, “and iron-ore resources reported in the Nordic area were only one-third of the level announced in 2011.”
Intierra added that the number of prospects reporting drilling activity in the region has averaged about 10 per month since 2009. The global total, by contrast, has slumped from a high of some 900 prospects monthly in 2011 to 300 prospects per month since Q2 2013. Expenditures are dominated by Sweden, Finland and Greenland; each reporting exploration expenditures of $108 million in 2012. “On a project basis, Finland and Sweden dominate,” Rossdeutscher added.
Finland constituted three-quarters of active 2012 gold exploration, while Finland and Sweden contributed a combined 82% of copper exploration. Greenland dominated searches for rare earths, and drilling in Greenland was reported for 10 different metals. Norwegian exploration was for gold, copper and nickel.
Canadian-based IntierraRMG Resource Sector Intelligence delivers is market and project reports researcher for suppliers, material flows analysis and others seeking mineral economics policy advice. Databases and sector-specific modules provide unique insights into lease ownership, company evaluations, mergers and acquisitions, risk management, due diligence, competitor intelligence, and project pipeline evaluation.