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Kiruna (Sweden) (AFP) – Swedish mining group LKAB has discovered in the far north of Sweden the “largest” rare earth deposit known so far in Europe, which could contain more than a million tons of metals, its CEO said.
This discovery 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 batteries for electric vehicles and turbines for wind towers.
“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,” CEO Jan Moström said in a statement. a statement.
“We are facing a supply problem. Without mines, there can be no electric vehicles,” he continued.
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 company admitted that it had not yet quantified its exact magnitude.
There is “a long way” to go 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,” Moström said.
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 “between 10 and 15 years”. .
