This study argues that collective memory is a relevant concept that can be used to analyse how the outlooks on industrial futures are shaped in remote northern locations. The case in question is the Sydvaranger iron mine in Kirkenes in the north-easternmost part of Norway. By drawing attention to the long periods of time often involved in forming collective memory, this study questions the viability of top-down processes of forming opinions aiming to set local minds on the track towards either “place-renewal” into an unknown post-industrial future or towards attaining a “social licence to operate” for any new or continued raw material producing industry. This exploration includes a discussion of memory studies, an overview of the industrial history of Kirkenes as part of a Euroarctic borderland and a study of the manifestations of collective memory in the contemporary local media. Revealing insights were obtained in Kirkenes through informal conversations and participant observation.