Ownership

From Report No. 13 (2006–2007) to the Storting: State-Ownership:
“The purpose of State ownership of Store Norske Spitsbergen Kulkompani is to contribute to maintaining and developing the community in Longyearbyen in a manner which supports the overarching objectives of Norwegian Svalbard policy. The company shall be operated on commercial principles and with a view to a market rate of return on invested capital.

On the basis of national interests, the Government believes it is important for the State to remain the dominant shareholder in Store Norske Spitsbergen Kulkompani AS. The jobs connected with the coal mining operations have for many years contributed significantly to the maintenance of a stable, year-round Norwegian activity and settlement on Svalbard.

The Government views State ownership of Store Norske in a long-term perspective.”