Mercury’s $1 Billion Geothermal Expansion Signals a New Era for New Zealand’s Renewable Energy Future By: Robert Buluma Mercury Doubles Down on Geothermal Power New Zealand’s renewable energy transition has entered a bold new chapter after Mercury announced plans to significantly scale its geothermal platform with a potential investment of up to $1 billion. The announcement marks one of the country’s most ambitious geothermal expansion strategies in recent years and reinforces geothermal energy’s growing role as a reliable, baseload renewable power source capable of supporting future electricity demand. Mercury revealed that it will immediately commit NZ$75 million toward geothermal appraisal drilling at two major projects located near Taupō — Ngā Tamariki and Rotokawa. These developments could collectively generate an additional 1 terawatt-hour (TWh) of electricity annually, enough to power approximately 125,000 more homes across New Zealand. The projects are expected to t...
LKAB owns and run the Kiruna ore mine, which is Europe’s largest underground iron ore operation. (Image courtesy of LKAB.)
LKAB, Swedish state-owned mining company, said it had found Europe’s largest known deposit of rare earths close to Kiruna, the country’s northernmost town.
This discovery might unchain the continents dependence in mining from the China.
98% of the group of 17 minerals used in electric vehicles (EVs), portable electronics, wind turbines and military equipment are produced by the nation.
According to LKAB, the Per Geijer deposit, north of the company’s largest iron ore mine in the Swedish Arctic, is estimated to contain more than 1 million tonnes of rare earths.
Developments still in exploratory phase with the full extent of the deposit is not known.
“It will be at least 10 to 15 years before we can actually begin mining and deliver raw materials to the market,” chief executive officer Jan Mostrom said in the statement, citing a timeline derived from other permitting processes in the industry.
LKAB plans an application for an exploration concession this year, before seeking permits.
Mostrom called on the European Commission to speed up and streamline those processes as part of its Critical Raw Materials Act, which is expected to be announced in March this year.
Sweden plays a pivotal role in the European Union’s renewable energy quest, supplying about 90% of the continent’s iron ore. Most of the steelmaking commodity is mined at LKAB’s operations.
Source: Mining.com
#Sweden #Renewableenergy #RareEarths #Europe
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