China note! EU-member Sweden locates rare earth deposits
Associated PressJan 12, 2023
Sweden’s state-owned mining company LKAB announced on Thursday that it has identified over 1M tons of rare earth oxides in the county’s far north Kiruna area. It is the largest known deposit of such elements in Europe and could play a key role in the transition to green energy in the nordic nation and beyond.
Rare earth minerals are essential to many high-tech manufacturing processes and are used in electric vehicles, wind turbines, and many personal electronics.
Rare earth elements are vital as we progress in a digital world and look to transition to green energy. Not only are these elements important for technological development and production, but they also have great significance in geopolitical struggles as Western countries look to become independent from China’s manufacturing. Sweden’s discovery has implications for Europe and beyond.
While rare earth minerals may play a key role in manufacturing, mining for them presents environmental concerns that cannot be overlooked. Unless carefully regulated, the extraction process can contaminate water and processing raw ore produces potentially toxic chemicals. This major discovery will need to be carefully managed and regulated in the years ahead.