Swedish miners discover Europe's largest deposit of rare earth metals

[Celerity]

Europe's largest deposit of rare earth metals has been found in the far north of Sweden, a find that could aid the production of electric cars.

https://www.thelocal.se/20230112/swedish-miners-discover-europes-largest-deposit-of-rare-earth-metals/



Swedish mining company LKAB said the newly-explored deposit, found right next to an iron ore mine, contained more than one million tonnes of rare earth oxides.

“This is the largest known deposit of rare earth elements in our part of the world, and it could become a significant building block for producing the critical raw materials that are absolutely crucial to enable the green transition,” LKAB’s chief executive Jan Moström said in a statement.

“We face a supply problem. Without mines, there can be no electric vehicles,” Moström added. The full extent of the deposit has not been established yet. Moström said it would likely “take several years to investigate the deposit and the conditions for profitably and sustainably mining it.”

Asked when the deposit could actually be mined, Moström said at a press conference it would largely depend on how quickly permits could be secured. But based on experience it would likely be “10 to 15 years”, he said. The find was presented as a delegation from the European Commission visited Sweden, which took over the rotating EU presidency at the start of the year.

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