Sweden reports a new discovery of rare earth element used for manufacturing smartphones, electric vehicles and wind turbines
A significant discover has been made in Sweden of a rare earth element, that could potentially end Europe´s dependency on China.
According to a report in Associated Press on Thursday, January 12, the announcement of the rare find was made by the Sweden’s iron-ore miner LKAB.
A statement issued by LKAB said, it has identified “significant deposits in Lapland of rare earth elements that are essential for the manufacture of smartphones, electric vehicles and wind turbines”.
LKAB is a government owned company, that is involved in the mining of iron ore in Kiruna. It stated that over 1 million tonne of rare earth oxides have been found, adding that, the deposit is the largest ever discovered of its kind in Europe.
The rare earth materials found are a part of several things used in our day-to-day life, including mobile phones, hard drives, computers, elevators and trains.
They are also essential for the transition of Europe towards net neutrality as they are vital in the field of green energy, used in various applications including wind turbines and electric car engines.
Presently the European Union sources over 98 percent of this rare metal from China, as none of it is mined across the continent.
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