Kaunisvaara

There are large magnetite (iron ore) deposits in this area; Northland Resources began constructing the first mine in December 2011.^[1][2] Ore production was expected to begin in 2012,^[3] with annual iron ore production reaching 12 million tonnes by 2014. Reserves are estimated at 176 million tonnes.^[1] The mine went bankrupt in October 2014 because of low iron ore prices and high debts.

In 2009, archaeologists commissioned by Northland Resources found evidence of stone-age settlements, dated to 9300BCE, in the area; this has shed new light on the timeline of deglaciation and human settlement in northern Europe.^[4]

67°23′N 23°21′E / 67.383°N 23.350°E / 67.383; 23.350