Rare earth mining may be key to our renewable energy future
Rare Earth Elements (REE) are vital to a green energy future. These elements are vital components of hundreds of products across many applications including: high-tech consumer products, such as cellular telephones, computer hard drives, electric and hybrid vehicles, and flat-screen monitors and televisions.
SEOUL, South Korea - Jan. 23, 2023 - PRLog -- Significant defence applications include electronic displays, guidance systems, lasers, and radar and sonar systems also require Rare earth elements.
The issue with shifting from traditional energy resources to green energy for Europe is that they are almost completely reliant on China for these materials. Currently, Europe imports 98% of the rare earth metals it uses in manufacturing, a recent discovery is set to change this.
Huge rare earth minerals deposit found in northern Europe.
Government run mining firm LKAB has reported the largest rare earth mineral deposit ever discovered in Europe. A deposit of rare earth elements of up to 1 million metric tons of rare earth oxides was discovered in Kiruna, Sweden. According to recent reports it is set to disrupt the balance of REE Sources.
This discovery could make the EU a major player in rare earth element production. China has the market locked down with more than 60% of the total supply. The United States also purchases a large volume of rare earth minerals from China.
It will take several more years of exploration to determine the full extent of the deposit, then there's the long process of getting mining permits. Some residents of Kiruna have also expressed concern about how mining will affect the region, and that could further slow the process of getting the minerals out of the ground and into the supply chain.
Rare earth mining & processing companies favoured by investors.
Due to the increasing value and industrial demand for rare earth elements, more people are looking for investment opportunities. Unlike most commodities, you can't buy futures for rare earths, but there are other ways to gain exposure to the rare earth industry.
The most direct way you can begin investing in rare earth metals is through mining companies, most of which don't have publicly-traded stocks. However, those with accessible stocks include: