The discovery has the potential to help Europe break free from China’s dominance on the market for the resources. Read more at straitstimes.com.
STOCKHOLM – The largest known deposit of rare earth minerals in Europe has just been discovered in Sweden’s Arctic.
Work is still in an exploratory phase and the full extent of the deposit, just north of the company’s biggest mine in the Arctic town of Kiruna, is not known, LKAB said. The relative scarcity of rare earth minerals has been identified as a major hurdle in the world’s transition away from fossil fuels.
In Europe, Sweden plays a key role in the bloc’s renewable energy ambitions. It already supplies roughly 90 per cent of the continent’s iron ore, most sourced in LKAB’s mines in the north.
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