Norway discovers Europe’s largest rare-earth deposit
Norwegian mining company Rare Earths Norway have announced largest rare-earth elements deposit in continental Europe.
A mineral resource estimate indicating The Fen Carbonatite Complex has continental Europe’s largest rare mineral deposit has been announced by Rare Earths Norway.
The maiden inferred mineral resource estimate is claimed to be 559Mt at 1.57% Total Rare Earth Oxides (TREO).
Therefore, the company say the Fen Carbonatite Complex contains 8.8Mt TREO with a reasonable prospect for eventual economic extraction.
Within the TREOs, there is estimated to be 1.5Mt of magnet-related rare-earths used in electric vehicles and wind turbines.
Rare Earths Norway say they have confirmed they have a significant mineral resource at Fen through an independent third party.
This estimate follows three years of targeted exploration.
The current work reportedly provides a mineral resource estimate depth to 468m below mean sea level (msl).
Consulting firm WSP has provided support and technical guidance throughout the campaign and has now prepared an initial inferred mineral resource estimate in accordance with the requirements of the Australasian Code for the Reporting of Exploration Results, Mineral Resources and Ore Reserves (JORC, 2012 Edition, or JORC 2012) code.
Exploration drilling has been completed by the Geological Survey of Norway and the geological advisor the Telemark County council, indicating mineralisation is open to a depth of approximately below 1000m msl.
Rare Earths Norway expects the development of new mining methods will increase the resource estimate.
They say they are working with partners, such as Montanuniversität Leoben in Austria, to develop this deposit while minimising the environmental footprint from mine to magnet, according to Alf Reistad, CEO of Rare Earths Norway.
They will continue the exploration work at Fen, with a new drilling campaign already scheduled for 2024. They will continue to assess the economic viability of the Project through continued study work, with results due later in 2024.
Rare Earth Norway say they plan to establish a pilot factory close to the deposit in Nome municipality where they will test new technologies and optimise the mineral processing.
Additionally, the pilot will be an educational platform for training and education of future staff, this will be in close collaboration with local schools.
