2024-06-06 18:53:54
A mining group in Norway introduced on Thursday, with new experience, {that a} deposit of uncommon earth in southeastern Norway was the biggest in Europe, a promise of independence for a continent making an attempt to cut back its dependence on China.
In response to Uncommon Earths Norway, the Fensfelt deposit accommodates 8.8 million tonnes of those metals crucial for the inexperienced transition, which is rather more than Kiruna in Sweden which is believed to comprise between 1 and a couple of million tonnes.
“After three years of intensive drilling actions and analyses, (…) the primary estimate of mineral assets (…) exhibits that Fensfelt is the biggest uncommon earth factor (REE) deposit in Europe”, the group exhibits in press launch. .
The estimates, made with the assist of the Canadian consulting firm WSP, present particularly that there are 1.5 million tons of everlasting magnets, magnetic supplies used, amongst different issues, in electrical automobiles and wind generators on website.
Begin of extraction from 2030
Mining might begin in 2030 with an funding of 10 billion crowns (841 million Swiss francs) for the primary section alone, based on Uncommon Earths Norway.
“Uncommon Earths Norway’s aim is to contribute to a whole and compact worth chain, from ore to magnet, with a considerably decreased local weather and environmental impression,” mentioned its managing director, Alf Reistad.
In the hunt for power independence
Scaling its power dependence on Russia earlier than the beginning of the warfare in Ukraine, the European Union (EU), of which Norway isn’t an element, however with which it has shut ties, is making an attempt to redeem itself within the realm of the uncommon. metallic.
At the moment, 98% of the uncommon earths used within the EU are imported from China, so it has a digital monopoly within the sector. In January 2023, a Swedish mining group introduced the invention in Kiruna, in northern Sweden, of the “largest recognized deposit” of uncommon earths in Europe.
There are at present no uncommon earth mines working on the continent.
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