Rare earth metals discovery in Norway could eclipse Swedish find
The Norwegian mining company Rare Earth Norway announced on Thursday that 8.78 tonnes of rare earth metals have been discovered in deposits in Telemark's Norwegian region, 93 miles southwest of Oslo. This deposit is the largest found in Europe so far.
According to company representatives during a press conference in Oslo, the deposits in the Nome municipality are estimated to contain 8.78 tonnes of rare earth metals, including neodymium and praseodymium oxide. The deposit size was confirmed by the state geologist of the Telemark region, Sven Dahlgren, as cited in the press release.
The elements discovered in the Nome municipality are used in the production of batteries and wind farm turbines, as well as in the defence industry. Currently, China is almost a monopolist in supplying these metals.
Treasure more important than Norwegian gas?
Rare Earth Norway, which has been drilling for three years, declared that it can start extraction in 2030 and cover 10 percent of the continuing demand for rare earth metals. REN's CEO, Alf Reistad, commented that Norwegian metals may hangout to be more significant for Europe than gas imported from Norway
In 2023, a similar deposit was discovered in Kiruna, northern Sweden. It was then described as the largest in Europe. However, according to Norwegians, their discovery is larger.
The Swedish discovery sparked a debate on how to speed up procedures for the complex environmental permits needed to open a new mine. It also contributed to the creation of the European Union's strategy on critical metals.
Rare earth metals include 17 elements, such as lanthanum, praseodymium, neodymium, and lutetium.
