Uranium & Metal Ore Mining in European Union 2026: Industry Statistics & Trends

The Uranium and Metal Ore Mining industry in the European Union involves the extraction, concentration, and primary processing of iron ores, non-ferrous metal ores, and uranium and thorium ores. The industry has recently pivoted toward strategic revitalisation, driven by European policy demands to secure domestic supply chains for the green and digital transitions. According to official Eurostat structural business statistics, the mining of metal ores (NACE Division 07) accounted for approximately 9.6% of the total EU mining and quarrying sectoral net turnover, which equated to an estimated €16.66 billion out of €173.6 billion total sectoral turnover in 2022 (Eurostat). Following extreme pri

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What does the Uranium & Metal Ore Mining in European Union industry cover?

This industry encompasses the extraction, beneficiation, and concentration of metallic minerals and energy-producing metal ores within the European Union. Under the European NACE classification system, the sector is categorized under Section B (Mining and Quarrying) and primarily encompasses Division 07 (Mining of metal ores) and Division 07.21 (Mining of uranium and thorium ores). It includes activities such as underground and open-cast mining of iron, copper, zinc, bauxite, lead, and precious metals, as well as the manufacturing of uranium concentrate (yellowcake).

• •NACE Code B07 includes B07.1 (Mining of iron ores) and B07.2 (Mining of non-ferrous metal ores), which also covers uranium/thorium ores under B07.21.
• •Smelting, downstream refining of basic metals (NACE C24), and chemical enrichment of uranium (NACE C20.13) are strictly excluded from this mining classification.
• •Beneficiation processes such as crushing, grinding, magnetic separation, and flotation at the mine site are formally included in the scope.

Who operates in the industry and how is it structured?

The European metal ore mining sector is highly concentrated in a small number of mineral-rich member states, with Sweden, Finland, Poland, Greece, and Bulgaria dominating regional production. Sweden stands out as the dominant producer of iron ore in Europe, while Poland is a major global and regional hub for copper and silver extraction. The market structure is characterized by high capital intensity, a small number of large-scale, highly consolidated enterprises, and substantial barriers to entry due to environmental compliance and geographical deposit limitations.

• •Sweden is the main source of the EU's iron ore production and a key exporter of zinc, copper, and lead, with operations concentrated in the northern Norrbotten region.
• •Poland accounts for a substantial share of the EU's mining labor force, with 142,300 persons employed across the broader mining and quarrying sector in 2022 (Eurostat).
• •Bulgaria and Greece represent major specialized producers of non-ferrous metal ores, particularly copper, gold-bearing pyrites, and bauxite.

What drives demand in the industry?

The primary drivers of the industry are downstream metallurgical manufacturing, industrial recovery, and the green energy transition. Demand for iron ore is intrinsically tied to the European steel industry (NACE C24), which saw a modest recovery with steel production increasing by 1.5% to 78 million tons in the first seven months of 2024 (Eurostat). Simultaneously, global decarbonisation goals have dramatically escalated demand for critical metals like copper, lithium, nickel, and zinc required for electric vehicles, wind turbines, and grid infrastructure.

• •EU imports of rolled steel products rose by 6% to 18.58 million tons in early 2024, signaling robust industrial demand from the automotive and machinery sectors.
• •Decarbonisation targets demand a massive expansion of domestic copper and zinc mining to power electrical components and anti-corrosive coatings.
• •The shift toward domestic strategic supply security has renewed interest in European uranium deposits to support nuclear energy baseload requirements.

Who are the notable companies in the industry?

The competitive landscape of EU metal ore mining is defined by state-backed enterprises and prominent multinational public companies operating highly integrated, technologically advanced mine-to-smelter operations. Due to the high-tech nature of Scandinavian and Central European mining, these operators are global leaders in automation and ESG compliance. These major entities control the vast majority of output, maintaining deep commercial partnerships with European steelmakers and manufacturing hubs.

• •Luossavaara-Kiirunavaara AB (LKAB), a Swedish state-owned enterprise, operates the world's largest underground iron ore mines in Kiruna and Malmberget.
• •Boliden AB, a Swedish public multinational, manages major European mines and smelters, including the Kevitsa open-pit nickel-copper-cobalt-gold-PGM mine in Finland.
• •KGHM Polska Miedź S.A., a Polish publicly traded company, is one of the world's largest producers of copper and silver, operating massive mines in southwestern Poland.
• •Eldorado Gold Corporation, a Canadian mid-tier gold producer, operates significant metal ore mining projects in Greece through its subsidiary Hellas Gold S.A.

What are the recent trends and outlook?

Geopolitical friction and trade disruptions since 2022 have forced the EU to pivot away from traditional external suppliers of metallurgical raw materials. Historically, the EU imported 15 to 20 million tons of iron ore annually from Ukraine and substantial volumes of nickel and lithium from Russia, both of which have declined precipitously. To build regional resilience, the industry is experiencing a trend toward 'circular mining', such as extracting critical rare earth elements from historic mine tailings, and deploying hydrogen as a reducing agent to decarbonise heavy processing.

• •Iron ore imports from Russia collapsed from 2.8 million tons in 2022 to approximately 300,000 tons in 2023 due to EU sanctions (Eurostat).
• •Lithium raw material imports from Russia dropped to just 370 tons in 2023, forcing the EU to seek alternative domestic and global sourcing partnerships.
• •Collaborative projects like ReeMAP (by LKAB and Boliden) aim to produce sulfuric acid from mining waste to extract critical phosphorus and rare earth minerals.

How is the industry regulated?

The regulatory landscape in the EU is undergoing its most profound transformation in decades with the enforcement of the Critical Raw Materials Act (CRMA), which entered into force on May 23, 2024. This regulation aims to streamline permitting processes, facilitate access to financing, and mitigate strategic dependencies on single third countries. Operators must also comply with rigorous environmental, social, and governance (ESG) frameworks, including the Extractive Waste Directive and the EU Taxonomy for sustainable activities.

• •The EU Critical Raw Materials Act (Regulation (EU) 2024/1252) targets 10% of the EU's annual consumption of strategic raw materials to be extracted domestically by 2030.
• •The CRMA stipulates that no more than 65% of any strategic raw material's annual consumption can be sourced from a single third country.
• •In March 2025, the European Commission designated 47 'Strategic Projects' across 13 member states to receive accelerated permitting and priority regulatory treatment.

Government, statistical and trade sources used for this Claight analysis.

• Eurostat Businesses in the Mining and Quarrying Sector 2022-2023 ·
• European Commission Critical Raw Materials Act (Regulation (EU) 2024/1252) ·
• Eurostat Structural Business Statistics (SBS) 2024 ·
• Sweden's Innovation Agency (RE:Source) Circularity Gap Report Sweden 2022 ·
• LKAB Annual and Sustainability Report 2025