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Large mineral deposits in Finnmark

Kvalsund, northern Norway

The mineral deposits discovered in Kvalsund, Northern Norway are two-three times as big as first estimated and are worth approximately 2,5 billion EUR.

Location

The biggest finding of copper in Norway was made in July 2008, when the mining company Nussir ASA discovered deposits worth over 1,25 billion EUR in an abandoned copper mine in Kvalsund, Finnmark.

The company has completed additional exploration drilling in the area and new estimates show that the deposits contain 35 million tons of copper ore worth at least 2,5 billion EUR, NRK reports.

In addition to copper, the deposit contains gold, silver, platinum and palladium.

Nussir are now looking for partners for large-scale mining in Finnmark. They hope to start exploration within three years. The mine is expected to create 150 jobs in the small settlement of Repparfjord.