Norway is rich in mineral deposits and ores, and their extraction is a major industry in some regions of the country. Mining is their oldest major export industry, with some working mines being established more than 300 years ago. The industrial minerals Norway produces are olivine, quartz, dolomite, feldspar, talc, graphite and phosphate minerals. According to a 2016 report by the United States Geological Survey (USGS), Norway is a key producer of ground calcium carbonate, flake graphite, olivine, and silicon (Plaza-Toledo 1).  In 2022, Norway was the world's fourth-largest producer of silicon. The major metallic ores Norway produces are iron, nickel, and titanium. In 2016, Norway accounted for 5% of the world's titanium production, and in 2020 it was added to the European Union's Critical Raw Materials list.

Norway is also rich in mineral deposits that are important for the green energy transition, such as lithium, cobalt, copper and zinc. While it is one of wealthiest countries in the world as a result of its oil and gas reserves, Norway is transitioning to deep-sea mining for these metals that are in high demand in green technologies and energy applications. In January of 2023, the Norwegian Petroleum Directorate (NPD) released a resource assessment of the seabed minerals on the Norwegian shelf which concludes that substantial mineral resources are in place to cover many years of global consumption (Skauby). Seabed mineral deposits are mostly located between 1 km and 6 km below the ocean surface and are divided into three types: manganese nodules, manganese crusts and seafloor massive sulfide (SMS) deposits. All three types are polymetallic, meaning they containing multiple metals. Manganese crusts and sulfides have been found on the Norwegian Continental Shelf. The NPD assessment states manganese nodules have not been found, assuming that conditions for their formation are not present due to a high sedimentation rate. Rare minerals found at these deposits, such as neodymium and dysprosium, are extremely important for magnets in wind turbines and the engines in electric vehicles.

Manganese crusts are precipitated from dissolved metallic compounds in the seawater, which originate from both thermal springs and from run-off from land. They slowly build up on underwater rock formations in the deep sea forming a crust. Generally, the thickness increases by one centimeter every one million years. Manganese crusts contains mostly manganese and iron and smaller amounts of metals such as cobalt, nickel, copper, lithium, scandium and other rare earth elements. The sulfide deposits are formed on and within the seabed by volcanic hydrothermal activity associated with seafloor spreading. The vents emit particle-laden fluids that are predominantly very fine-grained sulfide minerals formed when the hot hydrothermal fluids mix with near-freezing seawater. These minerals solidify as they cool, forming chimney-like structures. The valuable minerals found in these deposits on the Norwegian Continental Shelf are copper, zinc, gold, silver, and cobalt.