The town of Falun is known to have existed in the 14th century as a market place for the surrounding lands. Mining for copper had been a local business since the mid-13th century, or possibly as early as 1000, and the organisation for the extracting of copper and gold from the Great Copper Mountain is believed to be the oldest still-existing enterprise in the world, proved active since 1347, when its charter was granted by King Magnus IV of Sweden. The first share in the company is dated as early as 1288.
However, an enterprise at that time was nothing more than a cooperation among the owners, each contributing with a share of money for constructions, tools, etc., necessary to run the organisation. Depending on their contribution they could use the facilities and share the profit according to the relative share they contributed.
The city of Falun received its privileges in 1641. By then Falun was already one of the largest cities in Sweden, with about 6000 inhabitants. Soon, however, the importance of the copper mine began to decrease. In 1687, parts of the mine collapsed in a landslide, creating an 100 m deep pit. Even though the mine remained in use for the next 300 years, the production gradually diminished, until it closed down in 1992.
The mining area of the Great Copper Mountain has been declared a UNESCO World Heritage Site, which also was the name of the mining company of Falun, is today a part of Stora Enso
