The discovery in Norra Kärr in Gränna is one of the world's largest deposits of heavy rare earth metals, metals needed in smartphones, tablets and green technology.
And it is not the only critical raw material that the EU longs for from Sweden.
Lithium and cobalt are needed for batteries.
Vanadium is needed for environmental technology.
The European Commission has published a list of 30 critical metals and minerals that it believes Europe must ensure access to.
As mining looks today, there are environmental and human rights issues with several of them.
- We are worried that the area will simply be destroyed.
Both the water and the area here carry a very rich cultural heritage, says Carina Gustavsson at Urbergsgruppen in Grenna, an association that works towards the mining plans.
Sweden has good conditions for extraction
- I have seen how these minerals are extracted in some of the worst places in the world.
I have seen how soldiers walk around mines and threaten miners and people living around them, says Joakim Wohlfeil, who is an expert on conflict minerals at the aid organization Diakonia.
According to the authority SGU, Sweden's geological survey, Sweden has very good conditions for extraction of at least half of the raw materials on the EU's list.
Together with Norway and Finland, we have the best geology in Europe in terms of the presence of critical metals and minerals.
But today there is no mine in Sweden that takes them up other than as by-products.
Stefan Sädbom at Lovisagruvan in Storå in Bergslagen wants to change that.
"We have great technology"
- We have great deposits.
We have great technology.
And we have fantastic legislation that takes care of everyone's interests, says Sädbom.
Joakim Wohlfeil at Diakonia believes that it is at least as important to take responsibility for the environment and human rights when the raw materials are extracted in other parts of the world.
- I can not decide where we should open mines, but I think it is very important that when we are such large consumers of these products that we also take some kind of responsibility for the production of them.