They are the fuel of the energy transition and those who have them are sitting on a wealth of raw materials: minerals from the group of rare earth metals are used in electric motors. They are also found in wind turbines and batteries. They are essential to the electrification of transport, a powerhouse in world politics – and mining is a dirty business. The backgrounds.
Nothing works in the high-tech economy without Chinese rare earths. The planned end of combustion engines in the EU from 2035 will boost demand. Europe’s largest deposit was recently discovered in northern Sweden – the mining company LKAB estimates it at one million tons. Is Chinese dominance crumbling?
Source: Krone
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