Europe seeks sovereignty in rare earths: the first step to achieve it is a mega-mine in Sweden

The European Union is making a significant move towards securing critical raw materials essential for its digital and green transitions, aiming to reduce reliance on external suppliers, particularly China. A landmark project, the Per Geijer mine in Kiruna, Sweden, represents a crucial step in this endeavor by unlocking substantial rare-earth element deposits. This initiative underscores the EU's strategic push for digital sovereignty by developing indigenous sources for vital technological components. The Per Geijer mine, already the world's largest underground iron ore mine operated by the state-owned company LKAB, holds significant quantities of rare-earth oxides alongside its primary ore. Initial estimates suggest a substantial increase in the known reserves, with LKAB projecting 2.2 million tonnes of rare-earth oxides, more than double previous assessments. This discovery positions the mine as a critical asset for the EU's future technological and industrial needs. The implications of fully exploiting the Per Geijer mine are far-reaching for the EU's digital sovereignty. If successfully developed, the mine could potentially supply up to 18% of the EU's demand for rare-earth elements, significantly diminishing the bloc's dependence on a single dominant supplier. This development is crucial for sectors reliant on these materials, such as renewable energy technologies, electric vehicles, and advanced electronics, enhancing supply chain security and economic resilience.