What Arctic Minerals does

Arctic Minerals is a Nordic-focused mineral exploration and development company listed on the Nasdaq First North Growth Market under the ticker ARCT. Its core activity is the identification, acquisition, and advancement of copper, gold, zinc, and critical mineral (including rare earth) assets across Sweden, Norway, and Finland. The flagship asset is the Hennes Bay copper-silver project in Västerbotten, Sweden, which holds a maiden JORC-compliant Mineral Resource Estimate of 55.39Mt at 1.0% CuEq, validated in part through access to historical Swedish Geological Survey (SGAB) drilling data from the 1970s and 1980s. Complementary assets include the Bidjovagge gold-copper project in Norway (indicated resource of 3.3Mt at 1.27g/t Au and 0.97% Cu), the Swan Lake project in Finland (51% interest with an earn-in pathway to 80%), and the Kuusi greenfield exploration project in Finland, alongside the REEM critical minerals portfolio acquired in October 2024.

The business model is that of a junior exploration issuer: Arctic Minerals raises equity on public markets, deploys capital into geological surveying, drilling, resource estimation, and metallurgical and mining studies, and seeks to advance assets toward development or sale. Value creation is expected to derive from resource growth, scoping and feasibility milestones, and strategic alignment with European Critical Raw Materials Act policy objectives that prioritize domestic supply of copper and rare earths. The company has not yet generated revenue and remains pre-commercial, with a small team of approximately 1–10 employees. Strategic positioning targets the European energy transition supply chain, where downstream offtakers are expected to be commodity refiners and industrial buyers. Leadership comprises ex-Boliden and ex-LKAB executives, including MD/CEO Peter George (appointed January 2026), Deputy CEO Erik Lundstam, CFO Johan Spetz, CSO Bino Drummond, and Chairman Robert Behets.

Name

Arctic Minerals

Legal name

Arctic Minerals AB (publ)

Website

https://arcticminerals.se

Company type

Public

Founded year

1999

Operating status

Operating

Headcount range

1–10 employees

Short description

Arctic Minerals is a Nordic mineral exploration and development company listed on Nasdaq First North Growth Market, advancing copper, gold, and critical mineral assets across Sweden, Norway, and Finland, anchored by its flagship Hennes Bay copper-silver project in Sweden.

Ownership category

akta.pro rank

Product category

Mineral Exploration and Mining Development

NAICS

Support Activities for Mining (2131), Geophysical Surveying and Mapping Services (541360)

SIC

Metal Mining (1000), Gold And Silver Ores (1040)

akta.pro primary industry

Exploration & Resource Development (Critical Minerals) (IMAKAFAL)

akta.pro secondary industries

Mineral Exploration & Geoscience Services (Geology, Geophysics, Geochemistry, Resource Modeling) (IMAKAKAA), Exploration & Production Drilling Services (RC, Core, Directional, Sonic, Auger) (IMAKAKAB)

Keywords

• Copper exploration
• Critical minerals mining
• Mineral resource development
• Nordic mining projects
• Gold copper deposits

Headquarters

HQ city

Östersund

HQ country

Sweden

HQ region

Europe

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Equity Capital Markets / Pre-Revenue: Arctic Minerals is a pre-revenue exploration and mining development company. It generates no product revenue. Operations are funded through equity issuances, rights offerings, and strategic placements on Nasdaq First North Growth Market. Future revenue would derive from copper, silver, gold, and other critical mineral production upon successful development of its Nordic project portfolio.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels6 records

Core offering

Arctic Minerals is a Nordic exploration and mining development company that identifies, explores, and advances copper, gold, silver, and critical mineral deposits in Sweden, Norway, and Finland. The company operates four core projects — Hennes Bay (Sweden, flagship), Bidjovagge (Norway), Swan Lake (Sweden), and Kuusi (Finland) — combining geological exploration, drilling, geophysical surveys, and JORC-compliant mineral resource estimation to deliver future metal production for European supply chains.

Product overview

Arctic Minerals is a Nordic exploration and mining development company focused on copper and strategic minerals essential for Europe's electrification. The company operates two main project tiers: Advanced Exploration Projects (Hennes Bay in Sweden and Bidjovagge in Norway with established JORC mineral resources) and Greenfields Exploration Projects (Swan Lake in Sweden and Kuusi in Finland at early stages). The flagship Hennes Bay project delivers a maiden mineral resource of 55.39Mt at 1.0% CuEq, while Bidjovagge holds 3.3Mt at 1.27 g/t Au and 0.97% Cu.

Differentiator

Problem solved

Functional benefit

Products and services

• Hennes Bay Project Flagship copper-silver exploration and mining development project located in Dalsland, southwest Sweden, spanning approximately 414 km² across Bengtsfors, Dals-Ed, Åmål, and Mellerud municipalities. The Dingelvik prospect holds a maiden JORC-compliant inferred mineral resource estimate of 55.39Mt at 1.0% CuEq (0.8% Cu and 20.8 g/t Ag) containing 447,000t copper and 36.99Moz silver. Less than 5% of the tenement has been drill tested, with multiple drill-ready targets identified. A positive Underground Mining Conceptual Study (September 2025) confirmed technical viability for decline access and Room and Pillar stoping at 3.0-4.0 Mtpa for at least 10 years. A new ~4,000 meter drilling program commenced in early 2026.
• Bidjovagge Project

Quantifiable outcome

• Maiden JORC MRE of 55.39Mt at 1.0% CuEq for 543,000t CuEq contained metal (447kt Cu + 36.99Moz Ag) at Hennes Bay Dingelvik prospect
• +2 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered operational and core.

• Protek NorroperationalOthers · 1 January 2026Protek Norr is an external drilling partner engaged by Arctic Minerals to conduct exploration drilling at the Hennes Bay project in Dalsland, Sweden. The drilling program commenced in early 2026, covering approximately 4,000 meters of drilling across multiple locations within the exploration permit area. Protek Norr is described as a highly reputable and well-established drilling contractor with long experience in Nordic drilling operations.
• Expert Geophysics SurveyscoreTechnology or Integration · 1 January 2025Expert Geophysics Surveys conducted airborne magneto-telluric (MMT) geophysical surveys at the Hennes Bay project in Dalsland in 2025. The helicopter-borne survey used a probe suspended approximately 60 meters below the helicopter at a flight height of ~160 meters to collect geological data and map the bedrock geology of the Dalsland region. Survey results generated multiple high-priority drill targets, with combined target areas 10x larger than the existing MRE footprint.
• Cube ConsultingcoreTechnology or Integration · 1 January 2025Cube Consulting, a highly regarded Australian independent consulting firm, was engaged to prepare and report the maiden JORC-compliant Mineral Resource Estimate for the Hennes Bay copper-silver project in March 2025. The MRE covers the Dingelvik prospect with 62 drill holes totaling 8,822 meters of drilling.
• Deswik Mining ConsultantscoreTechnology or Integration · 1 January 2025Deswik Mining Consultants, a highly regarded Australian independent consulting firm, was engaged to conduct the Underground Mining Conceptual Study for the Dingelvik deposit at Hennes Bay, announced September 2025. The study confirmed technical viability of mining via decline access and Room and Pillar stoping at 3.0-4.0 Mtpa for at least 10 years.
• Boden Prospektering ABcoreStrategic or Co-development Partner · 1 January 2024Arctic Minerals holds an initial 51% interest in the Swan Lake copper-gold project in northern Sweden through an earn-in agreement with Boden Prospektering AB (BP), with the right to earn up to 80% through additional investments in the project. The Swan Lake project is located in southern Norrbotten between Boliden's Aitik and Laver porphyry copper-gold deposits. IP geophysical surveys and exploration programs are ongoing under this earn-in arrangement.

Scale indicators2 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• First Nordic Metals: Canadian-listed Nordic gold and base metals explorer with a portfolio of projects in Sweden and Finland. Comparable as a small-cap Nordic exploration peer pursuing similar deposit styles and jurisdictions.
• Alicanto Minerals: Australia-listed Nordic copper-gold explorer with projects in Sweden. Directly comparable as Arctic Minerals' CEO Peter George was previously Managing Director, and the operational footprint (Sweden-focused copper-gold exploration) is closely aligned.
• Mawson Gold: Canadian-listed gold exploration company with the Rajapalot gold-cobalt project in Finnish Lapland. Comparable as a small-cap Nordic gold (and critical minerals) exploration peer pursuing similar deposit styles in stable Nordic jurisdictions.
• Copperstone Resources: Swedish copper-focused exploration and development company advancing the Viscaria copper project in Norrbotten. Closely comparable to Arctic Minerals as a small-cap Nordic copper developer with tier-1 jurisdiction exposure and a similar investor-relations driven business model.
• Beowulf Mining: UK-listed Nordic exploration and development company with copper, iron, and graphite assets in Sweden and Finland. Comparable as a small-cap, multi-commodity Nordic critical minerals explorer operating in the same jurisdictions.

Broad incumbents

• Talga Group: Sweden-based graphite and battery anode materials developer with advanced-stage assets and a vertically integrated battery materials strategy. Comparable as a larger, more developed Nordic critical minerals peer pursuing European electrification supply chains.
• Boliden AB: Swedish major base and precious metals miner operating Aitik, the largest copper-gold mine in Europe, and the historic Laver deposit that flanks Arctic Minerals' Swan Lake project. Comparable as the dominant Nordic incumbent in copper-gold mining against which Arctic Minerals' projects are measured.

Emerging players

• Eurobattery Minerals: Sweden-listed critical minerals exploration company focused on battery raw materials (nickel, cobalt, copper) in the Nordics. Comparable as an early-stage Nordic critical minerals peer addressing similar European supply-chain themes.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/arctic-minerals

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Arctic Minerals