Swedish mining company LKAB announced it has discovered the largest deposit of rare earth oxides in the Arctic region of the country. The announcement on Thrusday said more than a million tons of rare earth minerals was located in the Kiruna area, which is good news. Europe currently gets 98% of its rare earths from
China, the world production leader. Currently none are mined in Europe. These
minerals are crucial to manufacturing in the electronics industry for their conductive and magnetic properties. The road to exploiting the new deposit is long. The company expects to apply for a government permit to mine later this year. Safety and environmental protections will be of concern. (photo: Chinese neodymium)
