Europe's Largest Rare-Earth Deposit Found in Norway

Rare Earths Norway has announced a significant discovery at The Fen Carbonatite Complex, identifying it as the largest rare mineral deposit in continental Europe.

The initial inferred mineral resource estimate reveals a total of 559 million tonnes containing 1.57% Total Rare Earth Oxides (TREO), translating to approximately 8.8 million tonnes of TREO suitable for economic extraction.

Notably, the deposit includes 1.5 million tonnes of magnet-related rare-earths, crucial for manufacturing electric vehicles and wind turbines.

Over the past three years, focused exploration efforts, supported by the Geological Survey of Norway and the geological advisor from Telemark County council, have confirmed the potential of the Fen site.

These efforts have outlined mineralization extending to depths of around 1000 meters below mean sea level. WSP, a consulting firm, has played a pivotal role in guiding the exploration and ensuring compliance with the JORC 2012 code during this period.

The current resource estimate reaches a depth of 468 meters below sea level, indicating substantial growth potential with further exploration.

Looking ahead, Rare Earths Norway is committed to expanding their operations and enhancing the site's economic viability. CEO Alf Reistad has highlighted ongoing collaborations with Montanuniversität Leoben in Austria to develop the site responsibly, focusing on reducing the environmental impact from extraction to product.

A new drilling campaign is slated for 2024, alongside plans to establish a pilot factory in the Nome municipality. This facility will not only test new technologies and optimize mineral processing but also serve as a training hub in partnership with local educational institutions, ensuring a skilled workforce for the future.