Europe’s Largest Deposit of Rare Earth Elements Found

Where has Europe’s largest deposit of rare earth elements been discovered?

LKAB, a Swedish mining company, announced the discovery of a large amount of rare earth elements (REE) in the Kiruna region of Sweden. This is the largest known deposit discovered in Europe.

REEs are not mined in Europe. So, they have to import it from other countries. China currently mines the majority of REEs. This discovery can reduce Europe's dependency on China for these important REEs. However, LKAB has said that it will take years to begin mining the deposit and supplying it to the market.

What are rare earth elements, and what are their uses?

The term "rare earth elements" refers to a group of 17 elements used in the production of various high-tech items. They are not very rare, though, and are found in large quantities in nature. But they are difficult to mine.

REEs are used in many items that we use, such as cell phones, electric vehicles, flatscreen TVs and monitors, etc. Some REEs are used in the clean energy and defence industries. They are also used to refine petroleum.

Are rare earth elements found in India?

The mining and processing of REEs are difficult and use a lot of energy. It also creates radioactive waste. As a result, only a few countries have been successful in building the REE industry. China is one of them.

India, too, has large REE reserves, ranking fifth in the world in terms of REE resources. The earlier governments did try to develop a domestic REE production industry. But so far, we have been unsuccessful in producing REEs in the country.

Due to the shortage of REEs in India, Indian companies are forced to import REEs from China. So, the Indian government must find ways to use India's REE reserves.