[7] Gjedde acquired land properties in Norway, was a central participant in the mining industry, and also became a partner in the silver mining venture of Kongsberg Sølvverk, which was founded in 1623 and formally established by royal resolution in the spring of 1624 when king Christian IV himself came to inspect the newly discovered silver deposits in Sandsvær.

When the silver mine company was transformed into a private partnership in 1628, Ove Gjedde got a 25% share and from 1630 he was its director.

In 1657, he established the iron foundry Ulefos Jernværk at Ulefoss in Nome, together with his brother in law Preben von Ahnen.

When king Charles X Gustav of Sweden broke the peace of 1658, Ove Gjedde was taken prisoner, during a visit to Helsingborg.

At the time Gjedde was an old and physically weak man, but although he had already commissioned a grave monument in Helsingborg, because this had now become Swedish, when he died he was buried in the crypt of Roskilde Cathedral.