Largest deposit of rare earth metals discovered in the Arctic

(ORDO NEWS) — The largest deposit of rare earth metals has been discovered in the Swedish part of the Arctic. Such information was reported on its portal by the mining company LKAB.

In total, the list of rare earth metals includes 17 elements that are in demand in the production of electric vehicles and other industries. Among these metals are scandium, yttrium, lanthanum and lanthanides.

At the moment, China produces the most rare earth metals. In Europe, these elements are not mined, despite the great demand for them.

Now LKAB will invest heavily in exploration of the discovered deposit. According to experts, this process will take several years.

“This is the largest known deposit and could be an important element in the production of critical raw materials that are absolutely essential for the green transition,” said Jan Moström, president of the company.

The head of the Swedish Ministry of Energy, Ebba Bush, noted that the new mines will allow gasification of the EU countries.

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