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17/05/2024
Mining News

European city moving buildings ‘one by one’ after rare earth metals worth billions found

A European city is planning to move each of its buildings ‘one by one’ to make room for a massive mine set to extract billions of pounds worth of rare earth metals.

The sought-after minerals are used in everything from mobile phones to missiles and car batteries and at present 98 per cent of the resource comes into the EU from China.

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But the historic iron mining town of Kiruna, in Sweden, could be about to yield a new major source of the valuable commodities.

The settlement is 90 miles north of the Arctic Circle and home to around 17,000 residents. It grew after the discovery of iron ore in the area over a 100 years ago as a place for workers from the nearby Kiruna Mine to live.

Now what lies beneath the city is set to dictate its fortunes once more with authorities planning on moving the entire conurbation around two miles from its current location.

According to La Nacion the mining company LKAB have declared Europe’s largest rare earth mine has been discovered nearby.

It’s estimated this territory would have about 585 million tons of minerals, with at least one million tons of praseodymium or neodymium oxides, substances necessary for the manufacture of electric vehicles.

According to the BBC, “rare earths” are a group of 17 chemically similar elements crucial to the manufacture of many hi-tech products. Despite their name, most are abundant in nature but are hazardous to extract.

They are used in many modern devices, from electric cars to smartphones, and in nanotechnology.

Ebba Busch, Swedish Minister of Energy, Trade and Industry, the mining exploitation of the land could only begin in 10 or 15 years.

 

Source: Express

 

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