Stable Swedish Ore Production in 2025 – Despite an Uncertain Metals Market
The year 2025 was marked by significant volatility in the metals market driven by geopolitical developments and trade policy tensions. At the same time, Swedish ore production remained stable, while investment in mineral exploration declined sharply. This is highlighted in the latest edition of Statistics of the Swedish Mining Industry, published by the Geological Survey of Sweden (SGU).
The metals market in 2025 was characterised by high volatility, with geopolitics, trade restrictions, monetary policy concerns and shifts in supply contributing to wide price variations. Hopes of a gradual global economic recovery at the beginning of the year were not realised; instead, developments came to be dominated by intensifying trade policy conflicts, more stringent national resource strategies and rising geopolitical tensions.
– Geopolitics clearly set the tone for the metals market in 2025, yet Swedish ore production nevertheless remained stable. It amounted to 80 million tonnes, in line with the previous year, says Love Rudebeck, analyst at SGU.
The newly published report Statistics of the Swedish Mining Industry 2025 shows that iron ore production increased slightly last year, while the production of base metals declined. This decrease is explained by lower ore extraction combined with reduced metal grades.
At the same time, investment in mineral exploration in Sweden has fallen markedly. In 2025, it declined by 34 per cent compared with the previous year, measured in current prices. According to SGU, the downturn is primarily due to several major projects moving from intensive drilling phases to continued evaluation, planning and mineral resource and reserve estimation.
– Despite the decline in investment, interest in exploration remains strong. During the year, 276 booked visitor days were recorded at SGU’s drill core archive in Malå, Västerbotten, a substantial increase from 157 days the previous year. This year we see a continued trend with more and more visits to our Mineral Resources Information Office in Malå, says Love Rudebeck.
Statistics of the Swedish Mining Industry 2025 is the English version of SGU’s annual compilation of data on metal and mineral extraction in Sweden. The report also includes an international outlook, information on deposits of national interest under the Environmental Code, granted mineral rights, environmental statistics, as well as exports and imports of mineral raw materials and processed mineral products.
Selected figures from Statistics of the Swedish Mining Industry 2025
- Swedish exports of mineral raw materials and processed mineral products increased by approximately 4 per cent in value and 11 per cent in volume compared with 2024.
- Total ore production amounted to just under 80 million tonnes.
- Production of base metals and gold declined compared with 2024, while silver production increased.
- Sweden’s share of EU27 production was 8 per cent for copper, 42 per cent for lead and 36 per cent for zinc.
- Investment in exploration totalled SEK 1,367 million.
- At year-end, 801 exploration permits were in force.
- During the year, 115 new exploration permits were granted.
- Seven exploitation concessions were granted and no applications were rejected.
- Three new deposits were designated as being of national interest and were delineated in detail.
Last reviewed 2026-06-22