Connect with us

News

Europe’s largest rare earths deposit discovered in Sweden

Published

on

Picture taken on January 12, 2023 shows a view of the iron mine of Swedish state-owned mining company LKAB in Sweden’s northernmost city Kiruna. – Europe’s largest known deposit of rare earth elements — key for the production of electric cars — has been discovered in Sweden’s far north, Swedish mining company LKAB said. (Photo by Jonas EKSTROMER / TT News Agency / AFP) / Sweden OUT / SWEDEN OUT

Europe’s largest known deposit of rare earth elements, essential for the manufacturing of electric vehicles, has been discovered in Sweden’s far north, boosting Europe’s hopes of cutting its dependence on China.

Swedish mining group LKAB said Thursday the newly-explored deposit, found right next to its iron ore mine, contained more than one million tonnes of rare earth oxides.

“This is the largest known deposit of rare earth elements in our part of the world, and it could become a significant building block for producing the critical raw materials that are absolutely crucial to enable the green transition,” LKAB’s chief executive Jan Mostrom said in a statement.

“We face a supply problem. Without mines, there can be no electric vehicles,” Mostrom added.

While the find is believed to be the biggest in Europe, it remains small on a global scale, representing less than one percent of the 120 million tonnes estimated worldwide by the US Geological Survey.

In 2021, the European Commission said that 98 percent of the rare earths used in the EU were imported from China, prompting Brussels to urge member states to develop their own extraction capacities.

LKAB’s find was presented as a delegation from the European Commission visited Sweden, which took over the rotating EU presidency at the start of the year.

“Today, the EU is way too dependent on other countries for these materials,” Swedish Energy Minister Ebba Busch told a press conference, pointing specifically to Russia and China.

“This must change. We must take responsibility for the raw material supply needed for the (green) transition,” she added.

– Trade not enough –

The European Union has agreed to phase out new CO2-emitting vehicles by 2035, effectively banning combustion engine cars, meaning the need for rare earth materials will only increase.

In the short term, Busch said the EU needed to “diversify” its trade.

“But in the long run, we cannot rely on trade agreements only,” she said.

Mostrom said the full extent of the deposit had yet to be established.

“We are continuing to conduct exploration to see how big this is,” Mostrom told AFP, adding that LKAB was also still in the process of figuring out how the new deposit could be mined.

Mostrom said it was difficult to accurately gauge the impact of the discovery on reducing Europe’s dependence on Chinese imports.

But he said he was confident “it will have a huge impact.”

Asked during a press conference when the deposit could actually be mined and deliver raw materials to the market, Mostrom said it would largely depend on how quickly permits could be secured.

But based on experience, it would likely be “10 to 15 years”, he said.

(FILES) This file photo taken on November 16, 2012 shows the iron mine of Swedish state-owned mining company LKAB (Luossavaara-Kiirunavaara Aktiebolag) at Sweden’s northernmost town of Kiruna. – Europe’s largest known deposit of rare earth elements — key for the production of electric cars — has been discovered in Sweden’s far north, Swedish mining company LKAB said on January 12, 2023. LKAB said the newly-explored deposit, found right next to an iron ore mine, contained more than one million tonnes of rare earth oxides. (Photo by Jonathan NACKSTRAND / AFP)

According to LKAB, the rare earth elements found in the Per Geijer deposit occurred “in what is mainly an iron ore deposit and which may therefore be produced as by-products,” creating new opportunities for potentially “competitive mining.”

– From magnets to lenses –

Rare earth minerals with names like neodymium, praseodymium and dysprosium are crucial to the manufacture of magnets used in industries of the future, like wind turbines and electric cars.

They are also present in consumer goods such as smartphones, computer screens and telescopic lenses.

Others have more traditional uses, like cerium for glass polishing and lanthanum for car catalysts or optical lenses.

Sweden is one of the EU’s biggest mining countries.

More than 90 percent of the EU’s iron ore production comes from the Scandinavian country, which also has the bloc’s largest lead and zinc production, the second largest silver production, and among the highest gold and copper production, according to the Geological Survey of Sweden.

 

 

 

Comments

News

Kano Assembly Moves to Impeach Deputy Governor Gwarzo Over ₦1.6bn Alleged Fraud

Published

on

By

Deputy Governor of Kano State Aminu Gwarzo

The Kano State House of Assembly has initiated impeachment proceedings against Deputy Governor Aminu Abdussalam Gwarzo over allegations of gross misconduct, abuse of office, and breach of public trust.

The notice was presented yesterday during plenary by the Majority Leader, Lawan Hussaini Dala, who said the action follows Section 188 of the 1999 Constitution of the Federal Republic of Nigeria.

Dala said the allegations stem from Abdussalam’s tenure as Commissioner for Local Government (2023–2024) and his current role as deputy governor. He accused the deputy governor of diverting funds meant for the 44 local government councils.

According to the majority leader, Abdussalam allegedly received N1.5 million monthly from each council between June 2023 and January 2024, totaling N462 million. Between February and July 2024, he allegedly collected N3.255 million monthly from each council under the guise of special assignments, amounting to N726 million.

Dala also accused the deputy governor of abuse of office, claiming he facilitated payments of N10 million from each council to NovoMed Pharmaceuticals Limited, totaling N440 million, in violation of state procurement laws.

“The misuse of official capacity to confer undue advantage constitutes abuse of power and undermines public trust,” Dala told lawmakers, adding that the allegations amount to gross misconduct under the Constitution.

The impeachment notice was reportedly endorsed by 38 lawmakers, meeting the constitutional threshold to proceed. The Speaker has acknowledged receipt, and the House is expected to serve the allegations on the deputy governor.

If approved, a panel may be constituted by the state Chief Judge to investigate the claims.

As of filing, Abdussalam had yet to respond publicly to the allegations.

Continue Reading

News

IGP Inaugurates State Police Committee, Gives Four-Week Deadline

Published

on

By

State policing has been on the frontburner in Nigeria in recent years. Photo: X@PoliceNG

The Inspector-General of Police, Tunji Disu, on Wednesday inaugurated a seven-member committee on the establishment of state police, giving it four weeks to submit its report.

The inauguration was held during his maiden conference with senior police officers at the Peacekeeping Conference Centre, Force Headquarters, Abuja.

Charging members of the panel to discharge their duties with professionalism and objectivity, Disu described the assignment as “both significant and timely,” noting that it would shape the framework through which state policing may operate in Nigeria.

“In carrying out this assignment, your deliberations must be guided by professionalism, objectivity, and a clear appreciation of the unique complexities of policing a diverse nation such as our own,” the IGP said.

He stated that if properly designed and effectively implemented, state policing holds significant potential benefits for the country.

“By bringing law enforcement closer to communities, state police institutions can deepen local knowledge of security dynamics and enable quicker and more targeted responses to emerging threats,” he added.

The committee is expected to review existing policing models within and outside Nigeria, assess community security needs and emerging risks, and propose an operational framework for the establishment and coordination of state police structures.

It will also address issues relating to recruitment, training, standards and resource allocation, as well as develop accountability and oversight mechanisms to ensure professionalism and public trust.

The panel is chaired by Olu Ogunsakin, with Bode Ojajuni as secretary. Other members are Emmanuel Ojukwu, Okebechi Agora, Suleyman Gulma, Ikechukwu Okafor and Tolulope Ipinmisho.

Disu said the committee had about four weeks to conclude its assignment and submit a comprehensive report.
The move marks one of the first major steps taken by the new police chief since his appointment and confirmation a few days ago.

The development comes amid rising security concerns across the country, with several stakeholders advocating state policing as part of measures to tackle insecurity.

President Bola Tinubu had earlier asked the National Assembly to commence the process of amending relevant laws to pave the way for the creation of state police.

Continue Reading

News

Tinubu swears in Disu as IGP, inaugurates RMAFC, FCSC commissioners

Published

on

By

President Bola Tinubu on Wednesday swore in Olatunji Disu as the Inspector-General of Police (IGP).

Disu took the oath of office at the Council Chamber of the Presidential Villa, Abuja, shortly before the commencement of the Federal Executive Council (FEC) meeting.

The President also administered the oath of office to six commissioners of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) and two commissioners of the Federal Civil Service Commission (FCSC).

The ceremonies were witnessed by ministers, senior government officials and family members of the appointees.
The council meeting began shortly after the swearing-in.

In attendance were Vice President Kashim Shettima; the Secretary to the Government of the Federation, Senator George Akume; the Chief of Staff to the President, Femi Gbajabiamila; the National Security Adviser (NSA), Nuhu Ribadu; and the Head of the Civil Service of the Federation, Mrs EsthMrs.Walson-Jack.

Disu was appointed acting IGP on February 25, 2026, by President Tinubu, following the resignation of former IGP Kayode Egbetokun.

His appointment was subsequently endorsed by the Nigeria Police Council (NPC).

The former Assistant Inspector-General of Police assumed office last Wednesday.

He previously served as Assistant Inspector-General in charge of the Force Criminal Investigation Department (FCID) Annex, Alagbon, Lagos, after his promotion to the rank last year.

A former head of the Lagos Rapid Response Squad (RRS), Disu has pledged to deliver accountable, modern and professional policing.

Continue Reading

Advertisement

Entertainment

Advertisement

MegaIcon Magazine Facebook Page

Advertisement

MEGAICON TV

Advertisement

Trending