Swedish mining company LKAB reports that it has discovered resources in excess of one million tonnes of rare earth elements in the Kiruna region.
It is thus the largest known deposit of this type in Europe.
Rare earth minerals are essential to many high-tech manufacturing processes and are used in electric vehicles, wind turbines, portable electronics, and microphones and speakers.
“This is good news – not only for LKAB, the region and the Swedish people – but also for Europe and the climate,” LKAB said in a statement. “It could become an important building block for the production of critical raw materials necessary for the green transition,” it said.
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