14th January 2023 (5 Topics)

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Europe’s largest known deposit of REE found in Sweden

Context

Sweden's LKAB had identified more than 1 million tonnes of rare earth oxides in the Kiruna area in the far north of the country, the largest known such deposit in Europe.

What are Rare Earth Elements (REE)?

The rare earth elements (REE) are a set of seventeen metallic elements.
These include the fifteen lanthanides on the periodic table plus scandium and yttrium.
Rare earth elements are an essential part of many high-tech devices.

REE in India

Some REEs are available in India — such as Lanthanum, Cerium, Neodymium, Praseodymium and Samarium, etc. Others such as Dysprosium, Terbium, and Europium, which are classified as HREEs, are not available in Indian deposits in extractable quantities.

Need of Rare Earth Metal

Rare earth minerals are essential to many high-tech manufacturing processes and are used in electric vehicles, wind turbines, portable electronics, microphones and speakers.

Significance of the development

Sweden currently holds the rotating presidency of the European Union and is a country seen as a key part of the EU's strategy for self-sufficiency in key minerals.
The European Commission considers rare earths to be among the most critical resources for the region.
The vast majority of rare earths are currently mined in China.

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Europe’s largest known deposit of REE found in Sweden