Enormous rare earth metals are deposited in arctic Sweden
“This is the largest known deposit of rare earth metals in our part of the world, and it can become an important building block for producing the critical raw materials that are absolutely crucial to enabling the green transition,” says LKAB CEO Jan Moström. “Without mines, there can be no electric vehicles.”
Ebba Busch, Sweden’s minister responsible for energy and business, said that “electrification, EU self-sufficiency and independence from Russia and China will start in the mine.”
“We need to strengthen industrial value chains in Europe and create real opportunities for the electrification of our communities. The policy must give the industry the conditions to switch to green and fossil-free production,” she added.
Rare earths are now reaching into the lives of almost everyone on the planet, appearing in everything from hard drives and cell phones to elevators and trains. They are particularly important for the rapidly growing field of green energy, feeding wind turbines and electric car motors.
Exploration will not start for several years even if permits are delivered very quickly.