Reuters
Swedish miner finds Europe’s largest deposit of rare earth metals
January 13, 2023
Location: Kiruna, Sweden
LKAB says it has identified more than 1 million tons of rare earth oxides
in the Kiruna area in the far north of Sweden
[Ebba Busch, Swedish Minister for Energy, Business and Industry]
“This is really an important day for Sweden and for the whole of the European Union. It is a significant happening which can play a key role in securing a green transition within the EU.”
Rare earth minerals are essential to many high-tech manufacturing processes
and are used in electric vehicles, wind turbines and portable electronics
Rare earth elements are currently not mined in Europe
leaving the region depending on imports from elsewhere, such as China
“We can reduce carbon footprints and strengthen our competitiveness at the same time. Obviously this is the million dollar question: is it possible to combine economic growth while at the same time reaching high set climate goals? And I say, the answer is yes. ‘’