By Agustín López Muñoz
Communications Manager, Panorama Minero
In general terms, what are Sweden's objectives in areas related to technology and innovation in the various industrial segments where it participates?
Sweden has clear goals across multiple sectors; We are involved in everything related to the development of industries and the economy of the future. Our country’s growth depends on companies and sectors that can innovate, on their ability to provide quality and reliability in everything we do. Innovation is part of the Swedish identity and a key resource to remain competitive and establish ourselves in today’s world, where competitors are increasingly stronger, producing at lower prices and on a larger scale.
That is the context in which we compete, and I believe we do it very well, distinguishing ourselves by providing top-quality products and services. That’s where our added value lies. We work with the mission of staying at the forefront of innovation, and we aim to support Swedish companies in their growth. The public sector collaborates closely with the private sector in our country, which I believe is essential to improving what we offer and how we position ourselves on the international scenario.
Precisely in the global analysis, there are differing and opposing views regarding the future of sectors tied to the energy transition. We see cases like the European Union or China, driving the demand for electric vehicles, and cases like the United States, where electromobility has not yet fully taken hold. What role will Sweden and the EU play in this context?
The energy transition is crucial for the future of the planet. There are no shades of gray or alternatives in that. It’s an issue we must face as a society. I believe Europe is ahead of most countries in economic and developmental terms, so it has the role of leading the charge in managing climate change. It requires efforts not only from companies and governments but also a shift in mindset within society. In the Nordic countries, this issue is central to our agenda, and we have the responsibility to demonstrate a model that shows how to manage resources responsibly. Even within Europe, Sweden is slightly ahead of the average, and we exert some "pressure" on the private sector to achieve climate-related goals. We need to show that it is possible and that we can move forward with a roadmap by working together.
Since the 1990s, carbon dioxide emissions in Sweden have been on a downward trend, contrary to what has happened in many other countries. We have achieved sustainable economic growth, advancing without neglecting the climate issue. To cite an example, in 2015, Peter Carlsson, a former Swedish executive at Tesla founded Northvolt, a lithium-ion battery factory for electric vehicles that aims to lead the electrification of transport in Sweden. Since its opening in Skellefteå in 2022, Northvolt has employed over 5,500 people and implemented a recycling program that reuses materials and metals for new batteries, highlighting its commitment to sustainability.
Do you believe that such consensus can be reached on a global scale?
Decarbonization is a goal we cannot afford to overlook. It’s about the future of the planet, and it compels us to seek consensus and balance, common policies that transcend the uniqueness of each country to counteract the undesired effects of productive growth itself. We need to find effective solutions to reduce pollution and demonstrate that it is possible to grow sustainably while minimizing our environmental impact.
Sweden holds a prominent role as a consumer of electric vehicles. Is there a focus within the country on the development of electric vehicles or batteries domestically?
The most important role we have at the government level is to improve the conditions for building a greener future. Specifically in the electromobility sector, our efforts are concentrated on creating favorable conditions for the installation of adequate charging infrastructure, which is something we are actively working on, while also supporting private companies with the know-how to transition to electric.
We have examples like Volvo Cars, which has a significant production presence in Sweden and fully incorporates Swedish DNA. They are becoming a major player in the electric vehicle market. Any Swedish manufacturer looking to specialize in these types of innovations will have our support because it’s an area with great potential, similar to artificial intelligence, which is another link in the innovation chain generating a lot of interest.
Regionally talking, how are relations with Latin America?
In Latin America, we have excellent relations with most countries. Argentina is one such example. There is room for more exchange, but we already have a strong Swedish presence. We have over 30 Swedish companies with a significant footprint in Argentina, and we also have importers of Swedish products, representing an estimated 50 companies, actively participating at the local level. These companies provide employment for over 17,000 Argentinians, a fact that highlights the importance of our relations and the potential for even more growth.
What is the value of bilateral trade between Sweden and Argentina?
According to last year’s figures, the trade exchange amounted to about US$300 million, of which US$200 million correspond to Swedish exports to Argentina and approximately US$100 million in the other direction. Additionally, it’s important to note that in 2023 we recorded a flow of Swedish investments in Argentina totaling US$120 million.
Argentina is undergoing a period of changes in its politics and economy. How are these transformations being followed?
We are closely following what’s happening in the country, both in the public and private sectors. There has been a drastic shift; not long ago, there were significant issues with imports and various economic challenges. The transformations being implemented are generating a lot of interest. We’re noticing an increasing number of inquiries at the embassy from Swedish actors who are intrigued by what’s happening here. There is now a firm interest in Argentina, though it’s important to note that most foreign companies are in a "wait and see" mode.
Major investment decisions are made with long-term thinking, so providing predictability is crucial. This interest and shift in direction must be supported by clear rules to encourage the inflow of capital. Companies are patient—we have Swedish firms that have been in Argentina for over 50 or even 100 years. They don’t easily leave a country, but I do believe it’s important to pave the way and establish a clear path for developing business that benefits all parties involved.
Specifically regarding mining, how important is Argentina for the development of new businesses?
Mining is perhaps the sector where we see the most potential to increase trade. Among the companies collaborating in the country, many are, in one way or another, interested or involved in the industry, whether by supplying machinery, as in the case of Sandvik, Epiroc, Alfa Laval, or Atlas Copco, or by promoting transport, such as Scania or Volvo. We also have Ericsson in the telecommunications field, and there are other sectors, like security and surveillance, where there is significant development. Another area of interest is software, which is a contribution we can make to the Argentine mining industry and where we have companies with a highly relevant global presence. In general, we offer advanced products and services in the many markets in which we operate.
In the extractive sector, what role does this industry play in Sweden’s economy?
Iron is one of Sweden's most important products, and we have a significant portion of Europe's iron deposits, located in the far north of our territory. Currently, mining is taking place in one of our country’s most important mines, in Kiruna, 1,300 meters underground, with plans to reach 2,000 meters. This is interesting because in Sweden we see how society coexists with mining. For example, in this case, the neighboring town is literally being relocated to continue the mining operations. All the investment for this task is being handled by the operating company, a state-owned enterprise, which is moving an entire town, demonstrating how the community and industry interact in our country.
We have significant mining activity in the region, and there are deposits with strategic minerals. It’s likely that in the future more mines will be operational, and this ties into what we mentioned earlier regarding geopolitics. Europe needs to reduce its dependency on foreign minerals, especially strategic ones, and Sweden has the responsibility to contribute significantly to this goal. And it must be developed with a strong commitment to sustainability, which is crucial to everything we do as a country. Mining must be viewed in the long term, and to achieve this, we must ensure not only our independence in accessing minerals but also that the practices used to develop these resources are consistent with environmental stewardship.
