Sweden has discovered Europe’s largest rare earth deposit with reserves exceeding 1 million tons: it is expected to end import dependence
Rare earth is an important resource. At present, my country is the world‘s largest exporter of rare earths, and Europe also relies on imports from China. However, the Swedish state-owned mining company Luosa Mountains-Kiruna Mountains announced the discovery of a rare earth mine in the country. More than 1 million tons, it is expected to end the dependence on imports.
The company discovered a rare earth deposit in northern Sweden,Among them are more than 1 million tons of rare earth oxides, the largest known rare earth deposit in Europe.
However, it will take a long time from the discovery of rare earths to mining. The company said it plans to submit an application for a mining concession this year.It is estimated that it will take at least 10 to 15 years to mine and supply minerals to the market.
data shows that,Rare earths are known as modern industrial vitamins. Rare earth elements mainly exist in the form of rare earth oxides,It can be divided into two categories: light rare earth and heavy rare earth, among which lanthanum, cerium, praseodymium, neodymium, promethium, samarium and europium are light rare earths, gadolinium, terbium, dysprosium, holmium, erbium, thulium, ytterbium, lutetium, scandium, The 10 kinds of yttrium are heavy rare earths.
Light rare earths are widely used, have outstanding commercial value, and are used in relatively larger quantities, while heavy rare earths are relatively scarcer, less substitutable, and more expensive.
According to data from the United States Geological Survey (USGS), global rare earth reserves have remained at 120 million tons since falling from 130 million tons in 2015.In 2021, my country’s rare earth reserves will be 44 million tons, accounting for 36.67%. The proportion has decreased under perennial mining but still far exceeds other countries.