A unique find in Sweden that could potentially reduce the dependence of the whole of Europe on China

The company has said that the metal mining site, which is adjacent to iron ore, contains more than one million tons of rare metal oxides, and it is not yet fully known how large the reserves of rare metals actually are.

“These new deposits are one of the largest in our region, and they can become a very important component in the production of various raw materials needed for the green revolution,” said LKAB CEO Jan Moström.

Sweden’s Minister of Energy and Industry, Eba Busch, announced that the electrification of the European Union, as well as self-sufficiency in resources and energy independence from Russia and China, could start directly from the newly discovered metal mining sites. The minister emphasized that Europe needs to strengthen its production potential and energy, as well as strive to abandon fossil fuels, thus giving preference to ecologically clean technologies.

The information agency AP clarifies that, even if the Swedish authorities allow the use of metal deposits, the extraction of resources in this place will be able to start only after several years.

It states that rare metals are most often used in everyday technology, such as displays and electric cars, as well as for more specific uses, such as precision weapons and wind turbines.