Enormous rare earths have been discovered in arctic Sweden
Iron ore miner LKAB says it has identified “significant deposits” of rare earth metals in Arctic Sweden that are essential for the manufacture of electric vehicles and wind turbines.
The Swedish state-owned company, which mines iron ore in Kiruna, nearly 600 miles north of Stockholm, says there are more than a million tons of rare earth oxides.
“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 enable the green transition,” says LKAB CEO Jan Mostrom.
“Without mines, there can be no electric vehicles.”
Ebba Busch, Sweden’s energy and industry minister, said: “The EU’s 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.
“Politics must give the industry the conditions to switch to green and fossil-free production.”
New exploration results from the Per Geijer orebody in Kiruna show rare earth mineral resources of more than one million tonnes, making it Europe’s largest deposit of its kind.
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— LKAB (@LKABgroup) January 12, 2023
Rare earths find their way into the lives of almost everyone on the planet, 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 at the site will not start for several years even if the permits are delivered quickly.