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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