One of the smaller mining companies in Scandinavia, the Northern Iron, is struggling to make ends meet as raw material prices plummet. After several golden years, a string of regional mining companies is threatened by closure.
Phosagro, Russia’s biggest producer of mineral fertilizers, cuts costs and boosts profits, and now considers the construction of a new plant in the Kola Peninsula.
As the price on gold reaches record heights, the Barents Region brings its noble riches to the fore. With an annual output of five tonnes, Lapland is expected to produce gold for at least another twenty years.
While the world is talking about an Arctic meltdown, another type of “ice” is building up in the North. Extraction of diamonds is an increasingly promising part of the Barents mining industry.
