Swedish miner finds Europe's largest deposit of rare earth metals

STORY: A Swedish miner has found Europe’s largest deposit of rare earth metals

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. ‘’