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LKAB

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LKAB has discovered Europe’s largest deposit of rare earth metals in the Kiruna area

“This is good news, not only for LKAB, the region and the Swedish people, but also for Europe and the climate. This is the largest known deposit of rare earth elements in our part of the world, and it could become a significant building block for producing the critical raw materials that are absolutely crucial to enable the green transition. We face a supply problem. Without mines, there can be no electric vehicles,” says Jan Moström, President and Group CEO, LKAB.
LKAB has identified significant deposits of rare earth elements in the Kiruna area, metals which are essential for, among other applications, the manufacture of electric vehicles and wind turbines. Following successful exploration, the company today reports mineral resources of rare earth metals exceeding one million tonnes of rare earth oxides and Europe's largest known deposit of its kind.
No rare earth elements are currently mined in Europe, at the same time, demand is expected to increase dramatically as a result of electrification, which will lead to a global undersupply, and this at a time of increasing geopolitical tensions. According to the European Commission’s assessment, the demand for rare earth elements for electric cars and wind turbines, among others, is expected to increase more than fivefold by 2030. Today, Europe is also dependent on imports of these minerals, where China completely dominates the market, a factor which increases the vulnerability of European industry.
“Electrification, the EU’s self-sufficiency and independence from Russia and China will begin in the mine. We need to strengthen industrial value chains in Europe and create real opportunities for the electrification of our societies. Politics must give the industry the conditions to switch to green and fossil-free production. Here, the Swedish mining industry have a lot to offer. The need for minerals to carry out the transition is great, says Minister for Energy, Business and Industry, Ebba Busch.”
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  • We Don't Have Time

    75 w

    Dear Ingmar Rentzhog Thank you for getting your climate love to level 2! We have reached out to LKAB and requested a response. I will keep you updated on any progress! /Adam We Don't Have Time

    • Thomas Tienso

      75 w

      What does the same village Gabna say? This will/may deeply effect their lives….

      3
      • Elizabeth Gathigia

        75 w

        Great translation

        • Waigwa Monica

          75 w

          👏🏽👏🏽👏🏽👏🏽

          • Sarah Chabane

            75 w

            This could be a game changer 👏

            • Tabitha Kimani

              75 w

              A great discovery by LKAB to scale transition to green energy.

              6
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