Rare earth metals are important for the production of wind turbines and electric cars and currently mainly come from China. Some of the metals found are also on the list of strategically important metals kept by the European Commission, the Norwegian state agency that regulates the extraction of gas and oil reported.
These are magnesium, niobium, cobalt and rare minerals. These are important raw materials for the production of wind turbines and electric car engines. Norway is not a member of the European Union, but does trade with it a lot.
The Norwegian oil and gas regulator, which commissioned the investigation, reports: “There is enough of various metals to cover global consumption for many years.”
Worried about mining
Norway does not yet know whether it will allow the extraction of these materials at sea. Environmental groups are very concerned about the consequences for marine life if companies dig for ores deep in the ocean, partly because there may be undiscovered animal or plant species there.
Further research must show whether the extraction of the minerals is possible without causing major damage to nature or the environment, the Norwegian regulator stated.
Earlier this month, Sweden reported having found the largest amount of rare earth metals in Europe. According to the Swedish government, this mineral resource can be ‘crucial’ for the transition to a sustainable economy.
