a mining group says it has discovered the largest deposit in Europe in Norway

This deposit, which is located around a hundred kilometers from Oslo, is believed to contain some 8.8 million tonnes of these metals, which are essential for electric cars or wind turbines.

Rare earths by the millions of tons. A Norwegian mining group announced Thursday June 6 that a rare earth deposit in the country was the largest in Europe ever discovered. According to Rare Earths Norway, which has carried out new assessments, this Fensfeltet deposit, which is located around a hundred kilometers from Oslo, would contain some 8.8 million tonnes of these metals essential to the green transition, i.e. significantly more than that of Kiruna in Sweden, supposed to contain between 1 and 2 million tonnes.

These estimates, carried out with the support of the Canadian consulting company WSP, notably note the presence on site of 1.5 million tonnes of permanent magnets, magnetic materials used, among other things, in electric cars and wind turbines. . Key ingredients for the energy transition and for the independence of Europe, keen to reduce its dependence on China.

Scalded by its energy dependence on Russia before the start of the war in Ukraine, the European Union, of which Norway is not a part, but with which it maintains close ties, is today seeking to emancipate itself in the field rare metals. Currently, 98% of rare earths used in the EU are imported from China, which therefore has a virtual monopoly in the sector.

In Sweden, the discovery of the previous deposit worried – and still worries – the reindeer herders of Lapland, the Sami, who fear pollution and the endangerment of their traditional way of life. No rare earth mines are currently in operation on the continent.

The Norwegian group now hopes to start in 2030, with an investment of 10 billion crowns (867 million euros) for the first phase alone, according to Rare Earths Norway.