Estonia is not rich in mineral resources. It mines oil shale, peat and some industrial minerals. There are also two deposits of phosphate rock (Maardu and Toolse) but mining at the Maardu deposit was stopped owing to environmental considerations, and a project to develop the Toolse deposit was cancelled.
Estonia's reserves of oil shale are considered to be the largest in the world (3,800 Mt). Estonian experts estimate that the reserves are sufficient for about 50 years of development. Oil shale is used as the principal fuel for regional power plants owned by Narva Elektrijaamad. The plants produce more than 90% of Estonia's electricity. Oil shale is also processed by the Kriviter chemical plant in Kohtla-Jarve.
Estonia's oil shale is mined by Eesti Polevkivi, and annual output amounts to 12.5 Mt in accordance with local demand. The company continues to produce shale from the Estonia and Viru underground mines as well as from two open pits. In 2003, Eesti Polevkivi plans to increase shale output by 1.0 Mt thanks to a contract signed with Latvian power generating companies. The state owns 49% of the shares of Eesti Polevkivi.
