1. Drivers for a growing (?) European mining sector. Magnus Ericsson Thorium drawing: Kaianders Sempler. Industrial Technologies 2012, Aarhus, 19-21 June 2012 Magnus Ericsson

2. Are metals really needed? Copper drawing: Kaianders Sempler.

3. Special properties of metals High strength Affordable cost Conduct heat and electricity Beautiful Indestructible Source: T. Graedel, Yale University.

4. Copper use vs. GDP/capita Source: Häggström, Handelsbanken 2006.

5. Copper use and urbanisation Source: ICSG, Raw Materials Group 2011 Population million Urbanisation

6. % of global mining Global mining – 19th/20th century

7. What has happened in Europe? Manganese drawing: Kaianders Sempler.

8. Iron ore production 061030Anton Löf Mt

9. Iron ore production Europe 061030Anton Löf Mt

10. Copper production 061030Anton Löf kt

11. Copper production Europe 061030Anton Löf kt

12. Gold production 061030Anton Löf t

13. Gold production Europe 061030Anton Löf t

14. 33 years -3.5%pa 40 years 2.3%pa 29 years -3.5%pa 10-15 years 2-3%pa ? Copper price

15. Iron ore prices Source: Raw Materials Data, Stockholm 2012 2001-December 2008 contract prices Carajas fines plus freight costs, 2009-2011 TSI 62 % USD/t, cfr China

16. Copper price Source: Raw Materials Data, Stockholm 2012

17. Gold price Source: Raw Materials Data, Stockholm 2012

18. Nickel drawing: Kaianders Sempler. The future?

19. Metal prices index 2012

20. Global steel growth 061030Anton Löf Source: Raw Materials Data Iron ore, 2011. 3.3 % 2010- 2030

21. Nordic ore production 2010-20 061030Anton Löf Mt

22. Conclusions 061030Anton Löf Europe’s import dependency for iron ore, copper and base metals is seriously high. These are the critical metals for Europe not small specialities like rare earths. Nordic mining could be part of the solution. Mining is growing in spite of the crisis. This industry needs more attention from Europe to fulfill its potential role both as economic motor and a strategic industry.

23. Copper drawing: Kaianders Sempler. Luleå University of Technology Raw Materials Group PO Box 3127 SE-169 03 Solna, Sweden Tel: +46-8-744 00 65 Fax: +46-8-744 0066 E-mail: magnus.ericsson@rmg.se www.rmg.se Thank you/Tack!

24. 061030 Metals first isolated in Sweden/Finland Please visit www.rmg.se

25. Raw Materials Group Raw Materials Data, Metals/Coal/Iron Ore. Strategy development: –Mining companies, equipment & service providers. Mineral policy, investment promotion: –Governments, International organisations. Pre-feasibility/Feasibility studies: –Financial institutions, companies. Member of the global IntierraRMG group.