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The deposit found in the Nome commune contains an estimated 8.78 tonnes of rare earth metals, including neodymium oxide and praseodymium oxide, company representatives said at a news conference in Oslo. Sven Dahlgren, state geologist for the Telemark region, was quoted in the news release as saying the size of the deposit was confirmed.
Elements found in the Nome Parish deposits are used in the production of batteries and wind turbines, as well as in the defense industry. Currently, they have almost a monopoly on providing these products China.
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A more important treasure than Norwegian natural gas?
The Norwegian Rare Earth Company, which has been drilling for three years, announced that it will be able to start mining in 2030 and then cover 10% of the costs. The demand for rare earth metals continues to grow. – Norwegian metals may be more important for Europe than the gas imported from Norway – commented Alf Reistad, head of REN.
The discovery in Sweden has sparked a debate about how to speed up the complex environmental permitting process required to open new mines and has led to a strategy European Union For critical metals.
The term rare earth metals covers 17 elements, including lanthanum, praseodymium, neodymium and lutetium.
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