Reported 7 months ago
According to CNBC, Norway recently found a rare earth ore deposit in the southeast part of the country believed to contain 8.8 million tons, the largest in Europe. This discovery could help Europe challenge China's monopoly in the rare earth market and provide crucial resources for the continent's energy transition. With China currently dominating global rare earth production and processing, Norway and Sweden's recent discoveries offer potential for Europe to reduce its reliance on China and Russia for rare earth imports.
Source: YAHOO