LKAB owns and run the Kiruna ore mine, which is Europe’s largest underground iron ore operation. (Image courtesy of LKAB.)
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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