Sweden finds Europe’s largest deposit of rare earth metals, which could become ‘more important than oil and gas’

Sweden finds Europe’s largest deposit of rare earth metals, which could become ‘more important than oil and gas’

• Swedish mining company LKAB discovered one million metric tons of rare earth oxides, which are used in electric vehicles and wind turbines.
• CEO Jan Moström said it was good news for Europe, which imports 99% of its rare earth elements from China.
• In 2022, European Commission President Ursula von der Leyen said rare earth elements would “soon be more important than oil and gas.”

https://www.cnbc.com/2023/01/13/sweden-mining-company-lkap-finds-big-deposit-of-rare-earth-metals.html