Discovery of huge deposits of rare earths in Europe

In Norway, a company has discovered a huge reserve of rare earth elements. Raw materials are of great importance for modern technology.

KASTLE – After three years of intense research, a Norwegian mining company announced at the beginning of June an exciting discovery: a huge deposit of rare earth elements in the so-called Finn complex in the Norwegian province of Telemark. It is perhaps the largest of its kind in Europe, and one geologist sees it as a “landmark.” also Researchers search for rare earths in the Harz Mountains.

“A milestone for us”: Mining companies discover 8.8 million tons of rare earths

The discovered raw materials are of crucial importance for modern technology. Initially, only a small event was suspected, but new research has shown that about 8.8 million tons of these metals are present in the sediment. Rare Earths Norway, the mining company that made the discovery, explains in an article noticeThat an independent third party has already confirmed the existence of significant mineral resources.

“This is an important event for us and could have great significance for the local community in Nome, but also for Norway and Europe for many generations,” said geologist Trond Watne. The discovered minerals, including neodymium, terbium and dysprosium, are essential to modern technologies. They are essential for the production of wind turbine generators, electric cars, displays, batteries and solar cells.

The mining company plans to start extracting raw material deposits from 2030

Although these minerals are, strictly speaking, not rare and many of the 17 rare earth elements are relatively common in Germany, extracting them is difficult. Compounds are often contained in the ore layers, making the extraction process complex and often very harmful to the environment. Rare Earths Norway plans to start mining from 2030, promising “significantly lower climate and environmental impacts” compared to traditional value chains for these minerals.

The Norwegian mining company's CEO believes the discovery and associated extraction project underscore “the potential and opportunities for Europe to invest in world-class mining and processing projects that secure our industrial value chains.” The next plan is to build a pilot plant near the newly discovered warehouse. New technologies will be tested there and metal processing methods will be improved. It requires investments amounting to ten billion kroner (867 million euros) in the first phase alone.

Demand for rare earth elements is expected to double by 2040 — so far about 90 percent of it has come from China.

The demand for raw materials located in Norway is constantly increasing. According to the International Energy Agency, demand for these raw materials will double by 2040 if member states follow the emissions target. actually The federal government warns of a shortage of raw materials. However, the supply of rare earth elements is limited and unevenly distributed geographically. Europe currently imports about 90 percent of its rare earths China, resulting in significant dependency. In order to reduce this dependence, countries around the world are looking for their own reserves.

In 2023, a major breakthrough was made in Sweden: the largest deposit of these minerals to date in Europe was discovered at the Per Geiger deposit near Kiruna. The discovery in Norway could cover about ten percent of the European Union's demand for rare earth elements. (Nabi/AFP)