LKAB has identified significant deposits of rare earth elements in the Kiruna area, metals which are essential for, among other applications, the manufacture of electric vehicles and wind turbines.
Following successful exploration, the company today reports mineral resources of rare earth metals exceeding one million tonnes of oxides – the largest known deposit of its kind in Europe.
“This is good news, not only for LKAB, the region and the Swedish people, but also for Europe and the climate. This is the largest known deposit of rare earth elements in our part of the world, and it could become a significant building block for producing the critical raw materials that are absolutely crucial to enable the green transition. We face a supply problem. Without mines, there can be no electric vehicles,” says Jan Moström, President and Group CEO, LKAB.
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