Positive news keep coming from Norway after Government's Fast...

Positive news keep coming from Norway after Government's Fast Track Mining Initiative for Critical Minerals last week …
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Norway’s Mineral Strategy
The Norwegian Minister for Trade and Industry, Jan Christian Vestre, has released Norway’s critical minerals strategy dated 21st June 2023 (Refer: https://www.regjeringen.no/en/dokumenter/norges- mineralstrategi/id2986278/).
The strategy highlights the importance of ensuring access to critical minerals and metals for Norway, its allies, and partners. Recognizing the concentration of supply chains in individual countries such as China as a security policy challenge, the Norwegian government aims to expedite the processing of mining license applications to facilitate faster establishment and extraction of Norwegian minerals.
As part of the government's mineral strategy, which emphasizes environmental considerations and sustainability, the fast track processing of license applications will enable accelerated extraction and production of Norwegian minerals. Additionally, geophysical mapping of Norwegian mineral deposits will be conducted to further enhance resource identification and utilization.
The strategy also emphasizes the importance of increased circularity and more recycling as crucial in the green shift to meet society's need for sustainable use of resources. Furthermore, the government has set a zero-emission target for mining equipment by 2030 and aims to eliminate the use of chemicals that are not environmentally certified.
To support the government's investment and ensure the success of the strategy, private capital is deemed crucial. The Norwegian government is exploring options to mobilize private capital, including the possibility of establishing a state mineral fund to further strengthen Norway's position as a stable and long-term supplier of minerals for the green shift. This follows the recent announcement by the French government in May 2023 to launch a €2 billion investment fund for critical metals, signaling the underlying European demand fundamentals and leadership by European governments to establish and achieve supply chain solutions.
The European Union (EU) has also outlined its own strategy for critical raw materials, with the objective of increasing independence of Europe’s supply chains. In line with this, Norway intends to strengthen cooperation with the EU and European countries to ensure access to raw materials and establish robust value chains.
In announcing the new mineral strategy, Jan Christian Vestre, the Minister for Trade and Industry, expressed confidence in Norway's potential to become the world's most sustainable mineral industry and emphasized the vital role of metals and minerals in driving the green and digital transition.