With Noboa’s win, Ecuador opens the door to Nordic Mining Innovation – Finland and Sweden supply 80% of the world’s underground mining technology

Economist Lassi Pensikkala helps identify new mining opportunities in Ecuador — a rising hub for international investment and sustainable growth.

By Lassi Pensikkala, Economist & International Business Developer, Samborondón, Ecuador

The recent (13th of April 2025) presidential victory of Daniel Noboa brings fresh hope for sustainable economic development in Ecuador. As the country looks to attract responsible international investment, there’s no better time to explore how Nordic countries — particularly Finland and Sweden, who supply over 80% of the world’s underground mining technology — can become key allies in modernizing Ecuador’s mining sector.

This leadership has been built over decades of operating in some of the world’s most demanding mining environments—from the Arctic Circle to deep granite shafts. Companies like Sandvik, Epiroc, Normet, Metso, and Outotec lead in everything from drilling and ventilation systems to electrified underground vehicles and advanced automation platforms.

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Why it matters for Ecuador

Ecuador is on the brink of becoming a significant mining country. As the sector grows, questions of safety, efficiency, and sustainability become central to public acceptance and long-term success.

This is where Nordic mining technology can offer a decisive advantage:

• Safety and reliability: Equipment designed for harsh conditions and high-performance environments

• Automation and digitalization: Reducing human risk while increasing precision and yield

• Sustainability: Strong focus on low-impact mining—cleaner, quieter, and more energy-efficient

• Capacity-building: Long-term partnerships that include training, local support, and knowledge transfer

A time for strategic partnerships

In Ecuador, the future of mining will depend not only on the quality of its mineral reserves—but on how the country extracts them. Nordic countries offer not just machines, but a mindset: clean, safe, and smart mining.

As someone with strong ties in both the Finnish and Ecuadorian business communities, I believe this is a perfect moment to foster new partnerships between Ecuadorian companies and Nordic technology providers. Together, we can develop a mining industry that is competitive, responsible, and forward-looking.

Let’s build that bridge.

Lassi Pensikkala

Economist & International Business Developer

Based in Samborondón, Ecuador

Participant – Expominas 2024, Quito

Sources:

• Normet: https://www.normet.com/about-us/

• Epiroc: https://www.epiroc.com/en/about-epiroc

• Sandvik Mining and Rock Solutions: https://www.rocktechnology.sandvik/en/

• Metso: https://www.metso.com/company/about-us/

• Business Finland – Mining Finland: https://www.miningfinland.fi/

• Swedish Mining Innovation: https://www.swedishmininginnovation.se/about/

How I got here

AmerExperience, an independent travel site, emerged from the author’s extensive four-decade career in travel, which…

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About the destination expert
Lassi Pensikkala — With four decades in the travel industry, economist Lassi Pensikkala has worked as a professional travel guide, destination management entrepreneur, and international travel consultant, serving 700+ B2B clients from 55 countries. He is polyglot and his experience spans global mega-events (Formula 1, football world championships, international trade fairs, and congresses) as well as incentives, themed group tours, and tailor-made cultural journeys. This expertise is built over 40+ years as the founder and operator of a destination management company in Germany, Europe and Latin America. He is the author of 37 Europe travel guides, 60 USA and 20 Latin America destination guides, and a growing collection of multilingual Travel Destination Magazines EN ES DE SE FI on AmerExperience.com. Learn more

By Lassi Pensikkala | Economist & Entrepreneur

Lassi Pensikkala is a Finnish travel expert, economist, and founder of AmerExperience.com. He lived in Sweden, 28 years in Germany and resides in Ecuador since 2009, publishing multilingual travel guides and international destination insights.

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