The Per Geijer deposit is located close to existing operations in Kiruna. Credit: LKAB.

Swedish state-owned miner LKAB has discovered, what it claims to be Europe’s largest known deposit of rare earth oxides, in the Per Geijer area near Kiruna.

The firm has identified mineral resources of more than one million tonnes of rare earth oxides, which are essential for the manufacture of electric vehicles and wind turbines, among other applications.

LKAB president and group CEO Jan Moström said: “This is the largest known deposit of rare earth elements in our part of the world, and it could become a significant building block for producing the critical raw materials that are absolutely crucial to enable the green transition.”

Rare earth elements are currently not mined in Europe. This makes the region reliant on imports to meet demands, which are surging due to an increase in electric vehicles and renewable energy.

Sweden Minister for Energy, Business and Industry Ebba Busch said: “Electrification, the EU’s self-sufficiency and independence from Russia and China will begin in the mine.”

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

Tick here to opt out of curated industry news, reports, and event updates from Mining Technology.

Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

LKAB is currently preparing a drift at a 700m depth in the existing Kiruna mine. This is laid towards the new deposit to enable investigation of its depth.

Moström added: “We are already investing heavily to move forward, and we expect that it will take several years to investigate the deposit and the conditions for profitably and sustainably mining it.”

Located close to existing operations in Kiruna, the Per Geijer deposit has the potential to become Europe’s most important mine for critical raw materials.