Sweden discovers uncommon earth metals — and that might redefine Europe’s relationship with China

Swedish firm LKAB has found what’s claimed to be Europe’s greatest deposit of uncommon earth metals, promising a crucial enhance within the continent’s commerce safety and inexperienced transition.

“Uncommon earths” are a gaggle of 17 chemical elements composed of scandium, yttrium, and lanthanides. Opposite to their identify, uncommon earths are literally plentiful; their rarity stems from the complexity of their extraction, separation, and refining, which might generate poisonous and radioactive waste, negatively impacting the environment.

However regardless of their environmental hazards, they’re essential for the manufacture of quite a few high-tech merchandise. This ranges from family items (TVs, computer systems, and smartphones) to medical gear (X-Ray and MRI scanning) and protection techniques (jets and evening imaginative and prescient tech, amongst others).

Get your tickets for TNW Valencia in March!

The guts of tech is coming to the center of the Mediterranean

Most notably, they’re additionally key for the clear vitality transition, as they’re elements of the magnets utilized in EVs and wind generators.

With no mining of its personal, the EU imports 98% of its uncommon earth metals provide from China, which homes the majority of the world’s reserve and is the most important international provider.

LKAB’s discovery, nevertheless, could possibly be a sport changer. The state-owned firm said that it has discovered a deposit — named Per Geijer — of over a million tons within the Kiruna space, situated in Lapland inside the Arctic Circle.

Sweden's LKAB finds the biggest rare earth metals deposit in Europe