Norway Fast-Tracks Europe's Largest Rare Earth Dig
The Norwegian government will control the development of the Fen rare earth deposit, Europe's largest, to speed up the project. The site's resource size almost doubled recently to 15.9 million metric tons of rare earth oxide. This move aims to reduce Europe's dependency on China for rare earth materials.
The Norwegian government will take charge of developing the Fen rare earth deposit, the largest in Europe, to expedite its progression after a recent resource upgrade nearly doubled its estimated capacity.
Norway's strategic move is aimed at decreasing Europe's reliance on China for rare earth materials that are critical for various technological applications, including electric vehicles and wind turbines.
The site, located in Telemark, could significantly bolster Europe's supply security. Fen is projected to produce 800 tons of neodymium and praseodymium by 2032, serving 5% of EU demand.
(With inputs from agencies.)
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- Norway
- Fen
- rare earth
- deposits
- Europe
- resource
- China
- supply security
- neodymium
- praseodymium
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