In Mining, Finland Literally Rocks, and Latin America is Booming
80% of mines worldwide have a Finnish component. By 2025, mining has emerged as one of the most significant industries for Team Finland in Latin America. It's encouraging to see Business Finland initiating a dedicated mining program to sustain this momentum.
Finland's Prominent Role in Latin American Mining Events
Finland's participation as the invited country at Expomin in Chile—the largest mining fair in Latin America—marked a historic first for a Nordic nation. The Finnish pavilion showcased 22 companies specializing in exploration, processing, environmental management, research, education, and digitalization. Beyond the exhibition, Finland contributed to the International Congress with panels on innovation, sustainability, equality, well-being, and education. Notably, composer and musician, Lauri Porra, the grandson of Jean Sibelius, performed at the event, and the pavilion featured a traditional Finnish sauna, emphasizing our cultural heritage.
Looking ahead, Finnish companies will participate in the World Circular Economy Forum (WCEF) in São Paulo, where mining will be a key topic. Later this year, Finland plans to engage in events such as Perumin in Peru, a mining fair in Ecuador, and potentially lead a mining delegation to Mexico.
Why the Sudden Surge in Mining Interest?
Mining is a critical driver for the electrification of industries, as well as for microelectronics, defense, oil and gas, and construction. As the demand for sustainable energy solutions grows, so does the need for responsible mining practices. Copper, in particular, stands out as one of the most essential minerals. Latin American countries are not only rich in these resources but are also striving to enhance the value chain within their mining industries.
In mineral processing, the copper smelters under construction in Uzbekistan, the Democratic Republic of Congo, and Indonesia are employing Finnish metallurgical technology. The cleanest method of smelting copper was developed in Finland during World War II, and since then, Finland has been instrumental in building clean smelters, such as those in Hamburg, Germany, and Harjavalta, Finland.
Finland's involvement spans the entire copper value chain, including capacity building and knowledge transfer, aiming to assist mining countries in maximizing their resources—from geology and exploration to extraction, processing, and environmentally respectful mine closure protocols.
Latin America's Mining Investment Landscape
Latin America's mining sector is experiencing substantial growth:
- In 2023, Latin America and the Caribbean attracted 19 megaprojects valued at over $1 billion each, with 17 undertaken by foreign investors.
- The region's base metal mining market generated revenue of approximately136.4 billion by 2030, growing at a CAGR of 3.4%. Copper was the largest revenue-generating product in 2023.
- Chile plans to invest approximately $83 billion in its mining sector by 2033, marking a 27% increase from the previous year's estimate.
These figures underscore the vast opportunities available for Finnish companies to collaborate and contribute to sustainable mining practices in the region.
Team Finland's Support for Finnish Companies
Team Finland is committed to supporting Finnish companies in establishing connections with end clients and partners in Latin America. We facilitate delegations from Finland to Latin America and vice versa, fostering collaboration and knowledge exchange.
If you're interested in exploring opportunities in Latin America's burgeoning mining sector, don't hesitate to contact us. Join our activities and become part of the sustainable mining movement! You will find Business Finland's Latin American offices from our office navigation.
Keep also in mind that Business Finland recently launched a campaign called Zero Waste Mining and Critical Minerals. The deeper look into the campaign and its’ goals will be presented in a webinar on 27 May 2025.