In terms of extractives, Norway is traditionally recognised for its oil and gas sectors, however the country also has considerable mineral wealth – with iron, nickel, molybdenum, rare earths, industrial minerals, natural stones, building raw materials and energy minerals available. The mining industry is relatively young in comparison to the coal and oil and gas sectors, with the country’s untapped mineral potential thought to be considerable. That being said, Norway did have an active copper industry in the past. Though Norway was partly responsible for the watering down of global climate change commitments at the 2021 COP26, the country is aware that it must diversify from the fossil fuel industries. As part of these efforts, Norway is increasingly at the forefront of deep sea mining efforts. Exploration has indicated that Norway’s seabed holds copper, zinc, cobalt, silver, gold, lithium and rare earth minerals.
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