China News Agency, Beijing, January 13, Stockholm news: According to Reuters, the Swedish state-owned mining company Luosa Mountains - Kiruna Mountains announced on the 12th that the company discovered a rare earth deposit in northern Sweden, which contained more than 1 million tons of rare earths. Rare earth oxides, the largest known deposit of rare earths in Europe.
"This is good news, not only for the company, the region and the people of Sweden, but also for Europe and the climate," Luosa-Kiruna said in a statement.
It will be an essential part of the production of key raw materials that are critical to the green transition.
The company said it plans to submit an application for a mining concession this year, but expects it will take at least 10 to 15 years before mining and supplying the mineral to the market is possible.
According to reports, the approval process for new mines in the Nordic countries is long and strict, because mining often increases the risk of affecting water resources and biodiversity in the area.
The report also said that rare earths are critical to many high-tech manufacturing and are used in electric vehicles, wind turbines, portable electronics, microphones and speakers.
Europe does not currently mine rare earth minerals and mainly relies on imports from other regions, and its future demand for rare earths is expected to grow due to the increased use of electric vehicles and renewable energy.
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