Exploration Revival In Sweden

Sweden is beginning to reap the rewards of a process that has transformed a country with a history of metal mining into one of Europe's most vibrant exploration regions. Exploration and mining companies from North America, Europe and Australia have joined local firms in the search of gold, base metals and diamonds. This has been due to changes in Sweden's mining laws in the early 1990s. These changes opened the way for unhindered private sector investment in the country's mineral industry. More than 20,000 km2 (4.9 million acres), mainly in northern Sweden, is now held under granted or applied exploration claims. Exploration permits diamonds, applied or granted covers more than half of Sweden's surface. This is a greater proportion of the country than ever before. Major mining companies and junior explorationists are evaluating a geological potential that bears favorable comparison to other major mining centers. Historically, Sweden's gold re- sources occur in greenstone belts in northernmost Sweden and in association with massive sulfide deposits in the Skellefte district. These are receiving particular attention by exploration companies. In addition, new areas in Sweden are also being explored for gold. This increases the probability that Swedish gold production - already the highest in Europe - will increase in the future (Table 1). Sweden's recorded mining history goes back for much of the last large pool of expertise in exploration, mining, equipment manufacturing and minerals industry research. In addition, the Geological Survey of Sweden provides sup- port for exploration in terms of data archives, processing and publications. Other benefits for exploration companies are Sweden's communications infrastructure, its member- ship in the European Union, bringing access to one of the world's major markets and the high level of educational, technical and language skills held by the country's work- force. And deregulation of the economy and the introduction of competitive corporate tax rates have made Sweden a favorable destination for investment in Europe.