Sweden's miner LKABgroup discovers Europe’s largest known deposit of rare_earths via CeciliaJamasmie
The discovery could help the continent break away from China’s dominance in the sector. The nation produces about 98% of the group of 17 minerals used in electric vehicles , portable electronics, wind turbines and military equipment.The Per Geijer deposit, just north of the company’s largest iron ore mine in the Swedish Arctic, is estimated to contain more than 1 million tonnes of rare earths, LKAB said.
Work is still in an exploratory phase, the miner noted, and the full extent of the deposit is not known. “It will be at least 10 to 15 years before we can actually begin mining and deliver raw materials to the market,” chief executive officer Jan MostromLKAB plans an application for an exploration concession this year, before seeking permits. Critical Raw Materials ActSweden plays a key role in the European Union’s renewable energy ambitions, already supplying about 90% of the continent’s iron ore. Most of the steelmaking commodity is mined at LKAB’s operations.
Sweden, which currently holds the rotating presidency of the EU, has invited bloc’s representatives for a two-day summit in Kiruna. The town grabbed headlines in as it was moved in its entirety to accommodate the growth of the namesake operation, which is the largest underground iron ore mine.Image courtesy of LKBA.
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