Ground Troves: Norway's Rare Earth Reserves Much Larger Than Thought - Norway's Rare Earth Discovery Could Reshape Europe's Green Tech Future
Norway's Fensfeltet deposit now holds nearly double the rare earth minerals previously estimated. The site, located 150 kilometres southwest of Oslo, contains 15.9 million metric tons of rare earth oxides. These elements are vital for electric vehicle motors and defence technologies, placing the discovery in the spotlight.
The European Union has labelled rare earths as critical raw materials, highlighting their importance for modern industries. Currently, China controls most of the global market, making new sources like Fensfeltet strategically valuable.
Rare Earths Norway (REN), which owns the mining rights, plans to start extraction in the first half of the 2030s. The company intends to develop an underground mine, though the project must first clear strict environmental regulations. The deposit sits in a biodiversity-rich area with old-growth forests, raising concerns about ecological impact.
REN CEO Alf Reistad believes authorities will prioritise the project due to its national and European significance. Despite the increased estimate—from 8.8 million to 15.9 million tons—the timeline for mining remains unchanged, pending approvals.
The Fensfeltet deposit could reduce Europe's reliance on imported rare earths. Extraction is set to begin in the 2030s, provided environmental standards are met. The site's neodymium and praseodymium reserves are particularly valuable for green technologies and defence applications.
