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Norway Discovers Europe's Largest Deposit of Rare Earth Metals
Rare Earths Norway has discovered Europe's largest proven deposit of rare earth elements in the Fen Carbonatite Complex, positioning Norway as a key player in Europe's effort to reduce reliance on China's rare earths supply. CNBC reports: Rare Earths Norway said in a June 6 statement that its Fen C...
CNBC reports: Rare Earths Norway said in a June 6 statement that its Fen Carbonatite Complex in the southeast of the country boasts 8.8 million metric tons of total rare earth oxides (TREOs) with a reasonable prospect for economic extraction. Within the TREOs, which are considered vital to the global shift away from fossil fuels, the company says there is an estimated 1.5 million metric tons of magnet-related rare earths which can be used in electric vehicles and wind turbines. The discovery eclipses a massive rare earths deposit found last year in neighboring Sweden.
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