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Thursday, June 20, 2024

Norway. They discovered large deposits of metals. Will Europe challenge China?

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According to estimates presented at the press conference in Oslo newly discovered deposits in Nome Parish they contain 8.78 million tons of rare earth metals, including neodymium and praseodymium oxide. These elements are used to produce batteries and wind turbines, a also in the defense industry.

Almost monopolistami in their delivery are currently China. The size of the deposit was confirmed by the state geologist of the Telemark region, quoted in the press release Sven Dahlgren.

The REN company, which has been drilling for three years, declared that is able to start mining in 2030 and then cover 10%. demand for rare earth metals, which continues to grow. – Norwegian metals may prove more important for Europe than imported from Norway gas – emphasized Alf Reistad, the head of REN.

In 2023, a similar deposit was discovered in Kiruna in the north Sweden; it was then called the largest in Europe. According to the Norwegians their find is bigger. The Swedish discovery sparked a debate on how to speed up the complex environmental permitting procedures needed to open a new mine and contributed to the EU's Critical Metals Strategy.

The term rare earth metals includes a group of 17 elementsincluding lanthanum, praseodymium, neodymium and lutetium.

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