A large deposit of rare earths is discovered in Sweden

Sweden announced Thursday the discovery of the rare earth deposit “larger” known so far in Europea small step towards a greater autonomy of the EU about Chinawhich leads the supply of these essential metals for the green transition.

“This is the largest known deposit of rare earth elements in our part of the world, and could become an important staple for the production of critical raw materials, absolutely crucial for the green transition,” said the general director of the public mining group LKAB, Jan Moström.

“We are facing a supply problem. Without mines, there can be no electric vehicles.”continued the manager, in a statement.

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The discovery, in northern Sweden, occurs in a context in which Europe is concerned about its dependence, especially on China -the world’s largest producer-, to obtain these minerals that are used to manufacture electric vehicle batteries. and the turbines of the wind towers.

According to first estimates, the Kiruna deposit, a large mining region in the Scandinavian country, contains more than “one million tons of rare earth oxides”but the Swedish company admitted that it had not yet quantified its exact magnitude.

Is left over “a long way” to go around before it can be exploited, LKAB warned.

“We anticipate that it will take several years to study the deposit and the conditions of profitable and lasting exploitation”indicated Moström.

Asked about the expected date for the start of the works, the person in charge said that it would depend above all on the speed of obtaining the exploitation permits, and assured that, according to past experience, this could take time. “between 10 and 15 years”.

Reduce dependence on China

According to current estimates, the announced deposit would represent less than 1% of the world’s rare earth reserves, estimated at 120 million tons by the US Geological Survey (USGS).

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The finding is still hopeful news for the European Union, scalded by its energy dependence on Russia and now interested in emancipating itself in the rare metals chapter.

Currently, 98% of the rare earths used in the EU are imported from China, which enjoys a near monopoly in the sector.

“Nothing more than our needs for rare earths are going to multiply by five from now to 2030”declared the president of the European Commission, Ursula von der Leyen, in September.

“We have to avoid finding ourselves in a situation of dependency again, as in the case of oil and gas”warned Von der Leyen, who then announced the preparation, still in progress, of a European regulation on raw materials of critical importance.

As part of its efforts to tackle global warming, the EU has agreed to end sales of new gasoline and diesel cars from 2035. These will have to be replaced by electric models.

“The electrification, self-sufficiency and independence of the EU with respect to Russia and China will start with this mine”, said Swedish Deputy Prime Minister and Minister of Economy and Energy, Ebba Busch, whose country has held the rotating presidency of the EU since the beginning of the year.

The announcement by LKAB, a public group, was made on the occasion of a visit to Kiruna by a delegation from the European Commission.

In the short term, Busch highlighted the importance for the EU of “to diversify” the origin of its imports. “But in the long term, we cannot rely exclusively on trade agreements,” said.

The term of rare earths includes metals such as neodymium, praseodymium or dysprosium, essential in the manufacture of magnets used in electric cars and wind turbines.

These metals are also present in consumer goods such as smartphones, computer screens, and telescopic lenses.

Others have more traditional uses, such as cerium, used to polish glass, and lanthanum, for exhaust pipes or optical lenses.

Source: AFP