In Mining, Finland Literally Rocks — and Latin America Is Booming

Did you know that 80% of mines worldwide have a Finnish component? Today, mining has become one of the most strategic industries for Team Finland in Latin America, including Mexico. Business Finland has recently launched a dedicated mining program to sustain this momentum and strengthen partnerships across the region.

Finland’s recent role as an invited country at Expomin in Chile — the largest mining fair in Latin America — marked a historic milestone as the first Nordic nation to receive such recognition. The Finnish Pavilion brought together 22 leading companies, offering cutting-edge expertise in exploration, processing, environmental management, research, education, and digitalization.

But Finland's contribution went far beyond the exhibition floor. Finnish experts led panels on innovation, sustainability, equality, well-being, and education during the international congress. The presence of Finnish composer Lauri Porra, grandson of Jean Sibelius, and a traditional Finnish sauna in the pavilion showcased not only Finland’s technological strength but also its unique cultural heritage.

More recently, Finnish companies also participated in the World Circular Economy Forum (WCEF) in São Paulo, where circular mining was a key focus. Finland’s mining engagement continues this year with participation in Arminera (Argentina), Perumin (Peru), Expominas (Ecuador), and an important mining event in Mexico.

Why So Much Interest in Mining?

Mining is a critical driver for sectors such as electrification, microelectronics, defense, oil and gas, and construction. As the global demand for sustainable energy solutions accelerates, so does the need for responsible and efficient mining practices.

Copper, in particular, plays a pivotal role. Latin American countries, especially Mexico, Peru, Chile, and Brazil, are not only rich in mineral resources but are actively seeking ways to enhance their value chains and increase local benefits.

Finland is proud to contribute: our metallurgical technologies are used in copper smelters under construction in Uzbekistan, the DRC, and Indonesia. The cleanest copper smelting method in the world, originally developed in Finland, is now a global standard.

Our expertise covers the entire copper value chain, from geology and exploration to extraction, processing, and responsible mine closure. This makes Finnish companies ideal partners for Latin American mining stakeholders committed to sustainability and innovation.

For example, the Geological Survey of Finland (GTK), governed by the Ministry of Economic Affairs and Employment, provides services worldwide for the mining industry. Services include mineral potential evaluation, ore prospecting, ore beneficiation research, geophysical studies, and management of mining water and the mining environment.

“GTK is currently modernizing its mineral processing industrial-scale pilot plant GTK Mintec, a unique service provider offering research and testing services throughout the value chain from ore deposits to the closing of mines and the reuse of materials. The brand-new research facility, GTK SMARTTEST, offers field-testing concepts for long-term behavior of side streams and mining waste,” said Hannu Lahtinen, director of the Geological Survey of Finland (GTK).

Finnish Companies Active in Latin America

Finnish expertise is well represented across Latin America’s mining sector. Notable companies include:

Mining equipment and technology:

• Metso: a global leader in mineral processing solutions.

• Normet: underground mining equipment and tunneling systems.

• Roxia, Kopar, Dynaset, Geopyörä: Offer solutions for processing, material handling, efficiency, and drilling accuracy.

Process industries and chemicals:

• Kemira, AFRY, Valmet, BioSO4: Deliver chemical, design, automation, and environmental solutions.

Environmental and water management:

• Lamor, Watermaster, Ecomond: Specialize in mining-related environmental remediation and water handling.

Instrumentation, connectivity, and automation:

• Vaisala, Ima Engineering, Elmery: Support safe and efficient operations through real-time monitoring and automation.

• Nokia: Delivers industrial-grade private wireless networks, enabling high-performance, low-latency connectivity for autonomous vehicles, remote monitoring, and safety systems in mining. Nokia’s mission-critical connectivity solutions help mining operations improve efficiency, worker safety, and digital integration across remote and complex sites.

Additionally, Mining Finland brings together over 160 member companies across the mining value chain, helping promote sustainable Finnish expertise globally.

“Mining Finland, with more than 160 members, represents and integrates the Finnish mining technology and service providers, offering comprehensive solutions for the global mining industry. Our member companies are leaders in areas such as exploration, mineral processing, environmental management, and digitalization,” said Lasse Moilanen, CEO of Mining Finland.

Latin America’s Booming Mining Investment Landscape

The mining sector in Latin America is attracting unprecedented global interest:

• In 2023, the region welcomed 19 megaprojects worth over US$1 billion — 17 led by foreign investors.

• The base metal mining market is projected to reach US$136.4 billion by 2030, growing at a CAGR of 3.4%.

• Chile alone plans to invest approximately US$83 billion in its mining sector by 2033, a 27% increase from last year.

These figures highlight immense opportunities for collaboration between Latin American and Finnish companies, particularly in advancing sustainable mining technologies and circular economy practices.

Finland’s Commitment to Zero-Waste Mining and Innovation

Building on Finland’s strengths in innovation and sustainability, Business Finland has launched the Zero Waste Mining and Critical Minerals campaign.

This initiative aims to create:

• Sustainable and circular practices in mineral value chains

• New economic value and higher performance

• Reduce costs associated with side and waste streams

“The Zero Waste Mining and Critical Minerals campaign is about creating a paradigm shift toward sustainable and circular practices in mineral value chains. We aim to not only reduce environmental impacts but also generate new economic value through innovation,” said Satu Penttinen, head of the Zero Waste Mining and Critical Minerals Campaign, Business Finland.

“Finland is a hub for sustainable innovations in the mineral cluster. A robust R&D ecosystem and high-quality education ensure continuous innovation. Companies and research organizations actively collaborate to develop sustainable solutions. We approach circular transformation through design, embedding circularity across entire value chains and promoting cross-industrial collaboration,” said Outi Suomi, mission lead, Circular Transition for Zero Waste, Business Finland.

Team Finland: Your Gateway to Finnish Expertise

At Team Finland, we are committed to building win-win partnerships with local stakeholders across Latin America, including Mexico’s dynamic mining ecosystem.

We:

• Facilitate connections between companies

•  Organize events and delegations both ways

•  Support engagements and knowledge exchange

• Promote long-term cooperation

At Team Finland, we are committed to building long-term, win-win partnerships in Latin America. By connecting Finnish and local stakeholders, we help shape the future of sustainable mining through collaboration, innovation, and mutual trust.

If you’re a Latin American mining company seeking innovative technologies and sustainable practices, or a Finnish company exploring opportunities in the region, we invite you to connect with us.

Let’s work together to shape the future of sustainable mining!