Skip to main content

Advertisement

SpringerLink
Log in

Discovered and undiscovered mineral resources: Evolving accounts and future prospects of minerals in Finland

  • Original Paper
  • Published:
Mineral Economics Aims and scope Submit manuscript

Abstract

Minerals are natural resources requiring accurate investigation and planning of extraction prior the actual mining stage. National and regional mineral resource inventories would benefit from adding more detail beyond tonnage, grade and location, when evaluating both current and potential future mineral wealth. In this paper, we consider the effect of information, time and project cycle on the mineral resource inventories for Finland. The research is forward-looking, and thus, we include the identified (but not mined) portions of discovered mineral resources and also the estimated undiscovered mineral resources (terminology based on the United States Geological Survey mineral resource classification). In addition, we consider how other types of land use limit mineral exploration. The studied metals were Cu, Ni, Zn, Cr, Fe, Au, Ag, Pt and Pd. The identified mineral resources of all of these metals increased from 2008 to 2015, driven by exploration and development at already known mineral deposits and mine sites. The results show that continuation of mine production is relatively well supported by currently profitable resources (i.e. ore reserves) in active mines and via development projects in the pipeline. In addition, a significant amounts of resources are still inferred to be discoverable for Pt, Pd, Cr, Au and Cu. A quarter of the mineral potential areas are reserved for land uses that restrict but not necessarily prevent mineral exploration. A share of identified resources occur in deposits that are not feasible for mining or interesting enough for exploration and development today. Our study demonstrates that identified resources become usable within different time periods. Knowledge of mineral resources and their usability is constantly changing, and even though mineral deposits are non-renewable, known mineral resources can be increased by exploration and mine planning processes.

This is a preview of subscription content, log in via an institution to check access.

Access this article

Log in via an institution

Price excludes VAT (USA)
Tax calculation will be finalised during checkout.

Instant access to the full article PDF.

Institutional subscriptions

Fig. 1
Fig. 2
Fig. 3
Fig. 4
Fig. 5
Fig. 6
Fig. 7

Similar content being viewed by others

References

  • AMDIS (2017) ASEAN Minerals Database and Information System  http://webgis.psdg.bgl.esdm.go.id/dbasean/ Accessed 2 Oct 2017

  • Arndt NK, Fontbote L, Hedenquist JW, Kesler SE, Thompson JFH, Wood DG (2017) Future global mineral resources. Geochem Perspect 6(1):1–156; Australian Mines Atlas http://www.australianminesatlas.gov.au/ 9.2.2017

  • Australian Mines Atlas (2017) http://www.australianminesatlas.gov.au/ Accessed 2 Sept 2017

  • Conde M, Le Billon P (2017) Why do some communities resist mining projects while others do not? Extr Ind Soc 4(3):681–697. https://doi.org/10.1016/j.exis.2017.04.009

    Article  Google Scholar 

  • CRIRSCO (2013) Committee for Mineral Reserves International Reporting Standards, International Reporting Template for the Public Reporting of Exploration Results, Mineral Resources and Mineral Reserves, July 2013. 41 pp. Available at: http://www.crirsco.com

  • Crowson P (2008) Mining unearthed: the definitive book on how economic and political influences shape the global mining industry. London Aspermont UK. 423 pp.

  • Cunningham CG, Zappettini EO, Vivallo S, Celada W, Quispe CM, Singer J, Briskey DA, Sutphin JA, Gajardo DM, Mariano M, Alejandro D, Carlos P, Berger VI, Carrasco R, Schulz KJ (2008) Quantitative mineral resource assessment of copper, molybdenum, gold, and silver in undiscovered porphyry copper deposits in the Andes Mountains of South America. U.S. Geological Survey Open-File Report 2008–1253

  • Dobra J, Dobra M (2014) Another look at non-renewable resource exhaustion. Miner Econ 27(1):33–41. https://doi.org/10.1007/s13563-014-0044-x

    Article  Google Scholar 

  • Duval JS (2012) Version 3.0 of EMINERS—economic mineral resource simulator. USGS OFR 2004–1344. Available online at: http://pubs.usgs.gov/of/2004/1344

  • Agnico Eagle (2013) Annual report form 20-F for the fiscal year ended 2012, March 28, 2013

  • Agnico Eagle (2014) News release February 12, 2014

  • Agnico Eagle (2016) Annual report 2015. March 2016

  • Eilu P, Rasilainen K, Halkoaho T, Huovinen I, Kärkkäinen N, Kontoniemi O, Lepistö K, Niiranen T, Sorjonen-Ward P (2015) Quantitative assessment of undiscovered resources in orogenic gold deposits in Finland. Geol Surv Finland, Rep Investig 216:318

    Google Scholar 

  • Eilu P, Hallberg A, Bergman T, Bjerkgård T, Korsakova M, Krasotkin S, Lampio E, Lauri L, Litvinenko V, Philippov N, Sandstad JS (2016) Fennoscandian Ore Deposit Database. annual update. Geological Survey of Finland, Geological Survey of Norway, Geological Survey of Sweden, The Federal Agency of Use of Mineral Resources of the Ministry of Natural Resources of the Russian Federation. Online at http://en.gtk.fi/informationservices/databases/fodd/index.html

  • EU-MKDP (2017) European Minerals Knowledge Data Platform http://minerals4eu.brgm-rec.fr/ Accessed 2 Sept 2017

  • Gold Fields (2014) Integrated Annual Review 2013

  • Haas W, Krausmann F, Wiedenhofer D, Heinz M (2015) How circular is the global economy? An assessment of material flows, waste production, and recycling in the European Union and the world in 2005. J Ind Ecol 19(5):765–777. https://doi.org/10.1111/jiec.12244

    Article  Google Scholar 

  • Hammarstrom JM, Robinson GR Jr, Ludington S, Gray F, Drenth BJ, Cendejas-Cruz F, Espinosa E, Pérez-Segura E, Valencia-Moreno M, Rodríguez-Castañeda JL, Vásquez-Mendoza R, Zürcher L (2010) Global mineral resource assessment–porphyry copper assessment of Mexico. U.S. Geological Survey Scientific Investigations Report 2010–5090-A 176 pp.

  • Hammarstrom JM, Bookstrom AA, Dicken CL, Drenth BJ, Ludington S, Robinson GR Jr., Setiabudi BT, Sukserm W, Sunuhadi DN, Wah AYS, Zientek ML et al (2013) Porphyry copper assessment of Southeast Asia and Melanesia. U.S. Geological Survey Scientific Investigations Report 2010–5090–D 332 pp.

  • Hinde C (2012) Commodities cycling: a bumpy ride. Presentation held in Raw Materials Group Helsinki Mining Summit, October 2012

  • Jackson T, Green K.P (2017) Fraser Institute Annual Survey of Mining Companies 2016. Fraser Institute, February 2017. https://www.fraserinstitute.org/sites/default/files/survey-of-mining-companies-2016.pdf

  • JORC (2012) Joint Ore Reserves Committee of the Australasian Institute of Mining and Metallurgy, Australian Institute of Geosciences and Mineral Council of Australia. Australasian Code for Reporting of Exploration Results, Minerals Resources and Ore Reserves, The JORC Code, 2012 Edition. Australasian Institute of Mining and Metallurgy, Australian Institute of Geoscientists, and Minerals Council of Australia. 44 pp. Available at: http://www.jorc.org

  • Kaivosvastuu (2015) CSR report on mining activities in Finland 2015. Online resource: https://www.kaivosvastuu.fi/csr-report-on-mining-activities-in-finland/

  • Kauppila P, Räisänen ML, Myllyoja S (2011) Best environmental practices in metal ore mining. Finnish Environ 29:191. https://helda.helsinki.fi/handle/10138/40006

    Google Scholar 

  • Keliber (2017) Online resource. https://www.keliber.fi/en/ Visited 3.11.2017

  • Kilby WE (2004) The British Columbia mineral potential project 1992–1997, methodology and results. BC Ministry Energy and Mines, GeoFile 2004–2. 324 pp.

  • Kolb J (2015) Assessment of orogenic gold mineralisation in Greenland. Geology and Ore 26. 12 pp.

  • Lisitsin V, Olshina A, Moore DH, Willman CE (2007) Assessment of undiscovered mesozonal orogenic gold endowment under cover in the northern part of the Bendigo zone. GeoScience Victoria, gold undercover report 2. Department of Primary Industries, State of Victoria 98 pp.

  • Lisitsin V, Dhnaram C, Donchak P, Greenwood M (2014) Mossman orogenic gold province in north Queensland, Australia: regional metallogenic controls and undiscovered gold endowment. Miner Deposita 49(3):313–333. https://doi.org/10.1007/s00126-013-0490-3

    Article  Google Scholar 

  • Ludington S, Hammarstrom JM, Robinson GR Jr, Mars JC, Miller RJ (2012a) Porphyry copper assessment of the Tibetan Plateau, China. U.S. Geological Survey Scientific Investigations Report 2010–5090–F 63 pp.

  • Ludington S, Mihalasky MJ, Hammarstrom JM, Robinson GR Jr, Frost TP, Gans KD, Light TD, Miller RJ, Alexeiev D, (2012b) Porphyry copper assessment of the Mesozoic of East Asia—China, Vietnam, North Korea, Mongolia, and Russia. U.S. Geological Survey Scientific Investigations Report 2010–5090-G 53 pp.

  • Markovaara-Koivisto M, Kivinen M, Eilu P (2017) Nickel mining potential for evaluating land-use pressure in the Sodankylä region, Finnish Lapland. SGA 2017 conference proceedings

  • Mihalasky MJ, Bookstrom AA, Frost TP, Ludington S et al (2011) Porphyry copper assessment of British Columbia and Yukon Territory, Canada. U.S. Geological Survey Scientific Investigations Report 2010–5090-C 128 pp.

  • NI 43-101 (2011) National instrument 43-101, standards of disclosure for mineral projects, form 43-101F1 technical report and related consequential amendments. Canadian Institute of Mining and Metallurgy 44 p. Available at: http://web.cim.org/standards

  • Norgate T, Jahanshahi S (2010) Low grade ores—smelt, leach or concentrate? Miner Eng 2010:65–73

  • Northey S, Mohr S, Mudd GM, Wenga Z, Giurgo D (2014) Modelling future copper ore grade decline based on a detailed assessment of copper resources and mining. Resour Conserv Recycl 83:190–201. https://doi.org/10.1016/j.resconrec.2013.10.005

    Article  Google Scholar 

  • Prior T, Giurco D, Mudd G, Mason L, Behrisch J (2012) Resource depletion, peak minerals and the implications for sustainable resource management. Glob Environ Chang 22(3):577–587. https://doi.org/10.1016/j.gloenvcha.2011.08.009

    Article  Google Scholar 

  • Rasilainen K, Eilu P, Halkoaho T, Iljina M, Karinen T (2010a) Quantitative mineral resource assessment of undiscovered PGE resources in Finland. Ore Geol Rev 38(3):270–287. https://doi.org/10.1016/j.oregeorev.2010.05.001

    Article  Google Scholar 

  • Rasilainen K, Eilu P, Halkoaho T, Iljina M, Karinen T (2010b) Quantitative mineral resource assessment of nickel, copper, platinum, palladium and gold in undiscovered PGE deposits in mafic-ultramafic layered intrusions in Finland. Geol Surv Finland Rep Invest 180:300

    Google Scholar 

  • Rasilainen K, Eilu P, Äikäs O, Halkoaho T, Heino T, Iljina M, Juopperi H, Kontinen A, Kärkkäinen N, Makkonen H, Manninen T, Pietikäinen K, Räsänen J, Tiainen M, Tontti M, Törmänen T (2012) Quantitative mineral resource assessment of nickel, copper and cobalt in undiscovered Ni-Cu deposits in Finland. Geol Surv Finland Rep Invest 194:521

    Google Scholar 

  • Rasilainen K, Eilu P, Halkoaho T, Karvinen A, Kontinen A, Kousa J, Lauri L, Luukas J, Niiranen T, Nikander J, Sipilä P, Sorjonen-Ward P, Tiainen M, Törmänen T, Västi K (2014) Quantitative assessment of undiscovered resources in volcanogenic massive sulphide deposits, porphyry copper deposits and Outokumpu-type deposits in Finland. Geol Surv Finland Rep Invest 208:393

    Google Scholar 

  • Rasilainen K, Eilu P, Halkoaho T, Heino T, Huovinen I, Iljina M, Juopperi H, Karinen T, Kärkkäinen N, Karvinen A, Kontinen A, Kontoniemi O, Kousa J, Lauri LS, Lepistö K, Luukas J, Makkonen H, Manninen T, Niiranen T, Nikander J, Pietikäinen K, Räsänen J, Sipilä P, Sorjonen-Ward P, Tiainen M, Tontti M, Törmänen T, Västi K (2016a) Assessment of undiscovered metal resources in Finland. Ore Geol Rev, in press (https://doi.org/10.1016/j.oregeorev.2016.09.031 86:896–923

    Article  Google Scholar 

  • Rasilainen K, Eilu P, Halkoaho T, Karinen T, Konnunaho J, Kontinen A, Törmänen T (2016b) Quantitative assessment of undiscovered resources in stratiform and podiform chromite deposits in Finland. Geol Surv Finland Rep Invest 226. 186 pp.

  • Rasmussen, RO (Ed) (2011) Megatrends, TemaNord 2011:527. Nordic Council of Ministers, Copenhagen. 205 pp.

  • Root DH, Menzie WD, Scott WA (1992) Computer Monte Carlo simulation in quantitative resource estimation. Nat Resources Res 1(2):125–138. https://doi.org/10.1007/BF01782266

    Article  Google Scholar 

  • Rosa D, Sørensen L, Stensgaard BM (2013) Magmatic nickel potential in Greenland. Geol Surv Denmark and Greenland Rep 2013/57. 134 p

  • Rosa D, Sørensen L, Stensgaard BM (2014) Tungsten potential in Greenland. Geol Surv Denmark and Greenland Rep 2014/76. 50 p

  • S&P Global Market Intelligence (2017) SNL metals and mining database, price charts. Accessed 1542017

  • Sairinen R, Tiainen H, Mononen T (2017) Talvivaara mine and water pollution: an analysis of mining conflict in Finland. Extractive Ind Soc 4(3):640–651. https://doi.org/10.1016/j.exis.2017.05.001

    Article  Google Scholar 

  • Saleem HA, Giurco D, Arndt N, Nickless E, Brown G, Demetriades A, Durrheim R, Enriquez MA, Kinnaird J, Littleboy A, Meinert LD, Oberhänsli R, Salem J, Schodde R, Schneider G, Vidal O, Yakovleva N (2017) Mineral supply for sustainable development requires resource governance. Nature 543:367–372

    Article  Google Scholar 

  • Singer DA (1993) Basic concepts in three-part quantitative assessments of undiscovered mineral resources. Nonrenewable Resources 2(2):69–81. https://doi.org/10.1007/BF02272804

    Article  Google Scholar 

  • Singer DA, Menzie WD (2010) Quantitative mineral resource assessments: an integrated approach. Oxford University Press, New York 219 p

    Google Scholar 

  • Sørensen LL, Kalvig P, Hanghøj K (2011) Rare earth element potential in Greenland. Geol Surv Denmark and Greenland Rep 2011/80. 30 p

  • Sørensen LL, Stensgaard BM, Thrane K, Rosa D, Kalvig P (2013) Sediment-hosted zinc potential in Greenland. Geol Surv Denmark and Greenland Rep. 2013/56. 184 p

  • Sutphin DM, Hammarstrom JM, Drew LJ, Large DE, Berger BB, Dicken CL, DeMarr MW et al (2013) Porphyry copper assessment of Europe, exclusive of the Fennoscandian Shield. U.S. Geological Survey Scientific Investigations Report 2010–5090–K. 197 pp.

  • Terrafame (2017) Annual report 2016. Available at http://www.terrafame.com

  • The Economist (2015) Goodbye to all that. The Economist, issue August 22nd 2015

  • U.S. Bureau of Mines and the U.S. Geological Survey (1980) Principles of a resource/reserve classification for minerals. U.S. Geological Survey Circular 831. 5 p

  • USGS (2017) United States Geological Survey https://minerals.usgs.gov/minerals/ Accessed 2 Sept 2017

  • Zientek ML, Causey JD, Parks HL, Miller RJ (2014a) Platinum-group elements in southern Africa—mineral inventory and an assessment of undiscovered mineral resources. U.S. Geological Survey Scientific Investigations Report 2010–5090–Q. 126 pp.

  • Zientek ML, Chechetkin VS, Parks HL, Box SE, Briggs DA, Cossette PM, Dolgopolova A, Hayes TS, Seltmann R, Syusyura B, Taylor CD, Wintzer NE (2014b) Assessment of undiscovered sandstone copper deposits of the Kodar-Udokan area, Russia. U.S. Geological Survey Scientific Investigations Report 2010–5090–M. 129 pp.

Download references

Acknowledgements

The authors want to warmly thank several people for their help and insight during this research and writing of the manuscript. First of all, we thank Kalevi Rasilainen and Pasi Eilu from the Geological Survey of Finland for their insightful discussions about undiscovered resources. Secondly, we thank Raili Aumo for her precious help with collecting and organising the mineral resource statistics. We thank both the funder and our colleagues in this project. In addition, we thank several colleagues at the Geological Survey of Finland for commenting the manuscript. Finally, competent comments by an anonymous reviewer and by the editor helped to improve the final manuscript.

Funding

The research was carried out within the Academy of Finland funded project ‘Sustainable Use of Natural Resources and the Finnish Economy’ (SURE) (grant number 258559 on call: sustainable economy).

Author information

Authors and Affiliations

  1. Geological Survey of Finland, P.O. Box 96, FI-02151, Espoo, Finland

    M. Kivinen, J. Pokki & M. Markovaara-Koivisto

Authors
  1. M. Kivinen
    View author publications

    You can also search for this author in PubMed Google Scholar

  2. J. Pokki
    View author publications

    You can also search for this author in PubMed Google Scholar

  3. M. Markovaara-Koivisto
    View author publications

    You can also search for this author in PubMed Google Scholar

Corresponding author

Correspondence to M. Kivinen.

Rights and permissions

Reprints and permissions

About this article

Check for updates. Verify currency and authenticity via CrossMark

Cite this article

Kivinen, M., Pokki, J. & Markovaara-Koivisto, M. Discovered and undiscovered mineral resources: Evolving accounts and future prospects of minerals in Finland. Miner Econ 31, 301–317 (2018). https://doi.org/10.1007/s13563-017-0131-x

Download citation

  • Received:

  • Accepted:

  • Published:

  • Issue Date:

  • DOI: https://doi.org/10.1007/s13563-017-0131-x

Keywords

Search

Navigation