Sweden’s LKAB Targets Supplying 18% of Europe’s Rare Earth Needs with Arctic Mine

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Sweden’s state-owned miner LKAB said it could supply up to 18% of Europe’s demand for rare earth metals in the long term if its Arctic Per Geijer mine enters production. The announcement coincides with the start of construction for a related processing facility in northern Sweden.

The 800 million crown ($73 million) plant in Lulea will process mining waste into rare earth concentrate, phosphoric acid for fertilizers, and gypsum. Commercial production is expected to begin by late 2029 or early 2030, using material initially sourced from LKAB’s Malmberget mine in Gallivare.

See also: MP Materials Begins U.S. Rare Earth Magnet Production at Texas Facility

“We see our first stage for phosphates at around 6% of European demand and rare earths about 2.5%,” Darren Wilson, senior vice president of LKAB’s special products business area, said. “When we expand fully and exploit the potential of Per Geijer, we see that being up to around 18%.”

The Lulea facility is not contingent on the development of the Per Geijer mine, which holds approximately 1.7 million tonnes of rare earth oxides but could take a decade to commercialize. LKAB has applied for a processing license for Per Geijer but still requires environmental and regulatory approvals.

See also: Phoenix Tailings Raises $43 Million to Boost U.S. Rare Earth Metals Processing Capability

Rare earths, a group of 17 metals vital for products ranging from smartphones to green technology, are critical to Europe’s climate goals. The European Union’s 2023 Critical Raw Materials Act aims to reduce reliance on external sources, particularly as geopolitical tensions with China and Russia pose risks to supply chains.

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