The discovery in Sweden of a large deposit of rare earth elements, vital for renewable energy and electric vehicles, offers fresh hopes for Europe’s transition away from fossil fuels
Announcing potentially the largest known find in Europe, Swedish state-owned mining company LKAB said Thursday that some of the rare earth elements in the deposit could be used to
produce permanent magnets, which are components in motors for electric vehicles and wind turbines. The company said the rare earth elements could be produced as a byproduct of mining iron ore.
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