Swedish government-owned LKAB has found a deposit containing over a million tonnes of rare earth oxides in the Artic region of Sweden.
The deposit has been hailed as "decisive" for the green transition, given the expected rise in demand for electric vehicles and wind turbines, which depend on these materials for their manufacture.
“This is the largest known deposit of rare earth elements in our part of the world, and it could become a significant building block for producing the critical raw materials that are absolutely crucial to enable the green transition,” said LKAB chief executive Jan Mostrom.
“Without mines, there can be no electric vehicles.”
Europe’s largest deposit of rare earth metals is located in the Kiruna area / LKAB
Image credit: LKAB
Rare earths...