Huge Rare Earth Deposits Discovered in Europe

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

KASSEL – After three years of intensive research, a Norwegian mining company announced a sensational discovery in early June: a huge deposit of rare earth elements in the so-called Fyn complex in Norway’s Telemark county. It is probably the largest of its kind in Europe and, according to one geologist, “a milestone.” Researchers are also looking for rare earths in the Harz Mountains.

'A milestone for us': Mining companies discover 8.8 million tonnes 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 around 8.8 million tons of these minerals are present in the deposits. Rare Earths Norway, the mining company that made the discovery, explains in an article noticeThat an independent third party has already confirmed the presence of significant mineral resources.

“This is an important event for us and could be of great importance 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 for modern technologies. They are needed to produce wind turbines, electric cars, displays, batteries and solar cells.

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

Although these minerals are not, strictly speaking, rare and many of the 17 rare earth elements are relatively common in Germany, they are difficult to extract. They are often contained in compounds in the ore layers, making the extraction process complex and often very environmentally harmful. Rare Earths Norway plans to start mining from 2030, promising much less impact on rare earths. climate and the environment” compared to traditional value chains for these minerals.

The Norwegian mining company’s CEO believes the discovery and the 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 deposit. New technologies will be tested there and mineral processing methods will be improved. An investment of up to 10 billion kroner (€867 million) will be required 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 in Norway is constantly increasing. According to the International Energy Agency, the demand for these raw materials will double by 2040 if member states follow the emissions target. The federal government is already warning of a shortage of raw materials. However, the supply of rare earth elements is limited and geographically unevenly distributed. Europe currently imports about 90 percent of its rare earths Chinaresulting in a huge 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 in the Per Geiger deposit near Kiruna. With the discovery in Norway, about ten percent of European Union– The demand for rare earth elements can be met. (Nabi/AFP)