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A Norwegian mining company has discovered a huge deposit of rare earths. The discovery is described as a “milestone” – and could reduce the EU’s dependence on China.
Oslo – After three years of intensive research, a sensational discovery was announced on June 6 in Norway’s capital Oslo: A mining company has identified a huge deposit of rare earths in the Scandinavian country. The discovery is probably the largest known deposit of the valuable raw materials in the whole of Europe. A geologist calls it a “milestone”.
Extremely important for modern technology: Europe’s largest rare earth deposit in Norway
The rare earth deposit was discovered in the so-called Fen Complex in the Norwegian province of Telemark. While it was previously assumed that the amount was smaller, new investigations have now shown that the deposit contains around 8.8 million tonnes of the metals. The discovery of the significant mineral resource has already been confirmed by an independent third party, the Mining company Rare Earths Norway with.
“This is a milestone for us, which could be of great importance for the local community in Nome, but also for Norway and Europe for generations to come,” says geologist Trond Watne about the deposit. The find includes metals such as neodymium, terbium and dysprosium, which are essential for modern technologies. The raw materials are used for the production of wind power generators and electric cars, among other things, and are also incorporated into displays, batteries and solar cells.
“Significantly lower impact on climate”: Norway wants to start dismantling the sensational find in 2030
Although the metals are not strictly speaking rare, many of the 17 rare earth elements are relatively commonHowever, extraction is difficult because the metals are often contained in compounds in ore layers. This makes mining complex and often very harmful to the environment. According to its own statements, the Norwegian company Rare Earths Norway wants to start mining in 2030. It should have a “significantly lower impact on the climate and the environment” than with value chains for the metals.
The discovery and the associated extraction project underline “the potential and opportunity for Europe to invest in first-class mining and processing projects that secure our industrial value chains,” says the CEO of the Norwegian mining company. First, the construction of a pilot factory near the recently discovered deposit is planned. New technologies will be tested there and mineral processing methods will be improved. Investments of ten billion krone (867 million euros) are required in the first phase alone.
Rare earths are scarce: Deposits could reduce EU dependence on China
The demand for the raw materials found in Norway is constantly increasing. According to the International Energy Agency, the need for the raw materials will double by 2040 if the member states pursue the emission target. However, the supply of rare earths is scarce and geographically unevenly distributed. Currently, Europe sources around 90 percent of its rare earths from China, which leads to a leads to considerable dependenceTo reduce this dependence, countries around the world are looking for their own reserves.
A significant breakthrough was achieved in Sweden in 2023: the largest deposit of these metals in Europe to date was discovered in the Per Geijer deposit near Kiruna. The discovery in Norway is expected to account for around ten percent of the EU-Demand for rare earths can be met. (nbe/AFP)
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