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Europe’s largest rare earths deposit discovered in Sweden
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.
The All Progressives Congress (APC) candidate for Oyo South Senatorial District, Hon. Aderemi Oseni, has donated a 500KVA transformer and N10 million in support of the 14th Annual Conference of the Ibadan Baptist Conference.
Oseni, who represents Ibarapa East/Ido Federal Constituency in the House of Representatives, made the donations on Tuesday while addressing participants at the conference, which was held under the theme, “By His Spirit.”
Speaking at the event, Oseni, who is the Chairman of the House Committee on Federal Roads Maintenance Agency (FERMA), expressed appreciation to the leadership and members of the Baptist Conference for giving him the opportunity to address the gathering. He commended the church for its contributions to the spread of the gospel and its impact on education, humanitarian services and other areas of human development.
The lawmaker said the challenges facing society could not be overcome through human efforts alone, stressing the need for divine guidance and the power of the Holy Spirit.
“Our efforts are important, but human efforts alone are not enough. We need the direction of God and the power of the Holy Spirit to guide us in our individual lives and in the affairs of our communities,” he said.
Oseni urged the congregation to combine faith with responsible action, saying lasting transformation could only be achieved when individuals and communities sought divine direction while taking practical steps to address their challenges.
He also encouraged Christians to take greater interest in politics and governance, noting that everyone votes remained an important instrument for determining the quality of leadership in the country.
According to him, “Votes count in Nigeria. Therefore, Christians must not remain on the sidelines. We must participate in politics, contribute ideas and collectively seek solutions to the challenges confronting our society. Governance is about the people and the delivery of services that improve their lives.”
The Oyo South senatorial candidate also solicited support for President Bola Tinubu and other APC candidates, saying leaders should be judged by their commitment to serving the people. He said the participation of responsible citizens in politics was necessary to promote good governance and ensure that public offices were used for the benefit of the people.
Quoting Proverbs 29:2, Oseni said, “When the righteous are in authority, the people rejoice.” He added that such rejoicing should be reflected in improved quality of representation, education, electricity, potable water, empowerment, healthcare, security, infrastructure, economic opportunities and good governance.
He said, “When the people have quality representation and can see the impact of government in their daily lives, that is when they will truly rejoice. Our people deserve access to good education, healthcare, potable water, electricity, security, infrastructure and opportunities to improve their livelihoods.”
Oseni further urged the congregation to remain united and continue to pray for the country and its leaders, particularly those entrusted with public responsibilities. He appealed to leaders at all levels to always seek wisdom and do what was right in the interest of the people, while assuring the people of his continued commitment to quality representation and service to humanity.
In his remarks, the President of the Ibadan Baptist Conference, Rev. Oyekola Bamidele, commended Oseni for his performance in office and his commitment to humanity.
Oyekola described the lawmaker as “one of our own,” acknowledging his contributions to the development and wellbeing of the people.
The Conference President subsequently invited church leaders, elders and members of the congregation to join him in prayers for Oseni, committing his leadership and future political ambition into the hands of God.
(C) Mega Icon Magazine
