Harry Sandström, Programme Director at Geological Survey of Finland.
The forecasted increase of electric vehicles (EVs) is huge: according to the International Energy Agency, there will be around 125 million EVs on the road globally by 2030.
The battery market is surging in parallel, with the raw materials market set to join it. However, until circulation technology is developed further and totally new battery technologies appear, there is sure to be a shortage of primary raw materials, such as cobalt.
In Europe, Norway is racing ahead in terms of EVs, but China will soon become the frontrunner on a global level. Even so, other markets are making progress of their own. Finland may only be a small economy, but it has notable strengths in the development of battery technology, particularly in terms of raw materials, chemicals, control systems and industry machinery.
Collectively, Finland and Sweden control close to 80 percent of the global underground mining equipment market. Nevertheless, the battery challenge facing the EV market is a global one, meaning that all countries, big and small, must contribute to solving it.
Buried treasure
Finland is already a major producer of battery metals in Europe. For mobile batteries, the Finnish mineral potential is substantial, particularly for lithium, cobalt, nickel and graphite.
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