Europe’s largest rare earth mine discovered in Sweden

Europe’s largest known reserves of rare earth elements, needed for the production of electric vehicles, have been discovered in the extreme north of Sweden, boosting Europe’s hopes of cutting its dependence on electric vehicles. belongs to China.

Swedish mining group LKAB on Thursday said the newly explored ore deposit, found right next to its iron ore mine, contains more than a million tonnes of the rare metal. The earth oxide.

“This is the largest known deposit of rare earth element in our part of the world and it could become an important building block for the production of critical raw materials that are vitally important to triggering a green transition,” LKAB chief executive officer, Jan Mostrom said in a statement.

“We face a supply problem. Without a mine, there can’t be tram“, Mostrom added.

Although the find is believed to be the largest in Europe, it is still small on a global scale, accounting for less than one percent of the 120 million tonnes estimated worldwide by the Geological Survey. USA.

In 2021, the European Commission says that 98 percent Rare used in the EU are imported from China, prompting Brussels to urge member states to develop their own mining capacity.

LKAB’s findings were presented when a delegation from the European Commission visited Sweden, which assumed the EU’s rotating presidency earlier in the year.

“Today, the EU is too dependent on other countries for these materials,” Swedish Energy Minister Ebba Busch told a news conference.

“This has to change. We have to take responsibility for providing the raw materials needed for the (green) transition,” she added.

Transactions are not enough

European Union has agreed to phase out new CO₂-Emission vehicles by 2035, completely banning cars using internal combustion engines, meaning that the demand for rare earth materials will only increase.

In the short term, Busch said the EU needed to “diversify” its trade.

“But in the long run, we can’t just rely on trade agreements,” she said.

Mostrom said the full extent of the deposit has yet to be established.

“We’re continuing to conduct exploration to see how big it can be,” Mostrom told AFP, adding that LKAB was still in the process of figuring out a new way of mining.

Mostrom said it is difficult to accurately assess the impact of this finding on reducing Europe’s dependence on Chinese imports.

But he said he’s confident “it’s going to have a huge impact.”

When asked during a press conference when the deposits can actually be mined and made raw materials available to the market, Mostrom said much will depend on how quickly the license can be secured. .

But based on experience, it will probably be “10 to 15 years,” he said.

According to the LKAB, rare earth elements found in the Per Geijer mine occur “where mainly iron ore deposits and can therefore be produced as a by-product”, creating new opportunities for “competitive mining”. potential” competition.

From magnet to lens

Rare earth minerals with names like neodymium, praseodymium and dysprosium are important for making magnets used in industries of the future, such as wind turbines and Electric Car.

They are also present in consumer goods such as smartphones, computer monitors and telescopes.

Others have more traditional uses, like cerium for polishing glass and lanthanum for car catalysts or optical lenses.

Sweden is one of the EU’s largest mining countries.

More than 90 percent of the EU iron ore production comes from the Scandinavian nation, which also has the bloc’s largest lead and zinc production, the second largest silver producer and among the highest in gold and copper, according to the Swedish Geological Survey.

© 2023 AFP