Catching up on this from overnight. LKAB is a Swedish iron ore miner. Its announced its found Europe’s largest deposit of rare earth elements.
- “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”
Rare earths are used extensively in electric cars and other tech. China is the #1 supplier of rare earths, and this discovery is unlikely to displace them. The LKA site is, on a global scale, small. Its around 1% of the circa 120mn tonnes estimated worldwide.
More here.
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This article was written by Eamonn Sheridan at www.forexlive.com.
