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Huge rare earth metals discovery in Arctic Sweden


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The iron mine of Swedish state-owned mining company LKAB in Kiruna, Sweden


Europe's largest deposit of rare earths - which are used from mobile phones to missiles - has been found in Sweden.

No rare earths are mined in Europe at the moment and a Swedish minister hailed the find as a way of reducing the EU's dependence on China.

The discovery is also being seen as "decisive" for the green transition, given the expected rise in demand for electric vehicles and wind turbines.




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Good for Sweden.


Although a million tons is significant for Europe, it's not huge on the scale of things. China's 44 million tons is just 38% of the world's total 116 mt reserves.  The problem is more about complex and dirty refining. A quote from the article:


'The newly discovered raw materials may not reach the market before 10-15 years' time, LKAB mining company's CEO said. Permitting processes take time due to environmental risk evaluations.


China dominates world production of refined REMs because of environmental issues, which are many. 



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