Part of the solution for Norwegian minerals

The world now has a great need for a number of metals and materials which are designated as critical. This is because they are necessary in the production of technological products which, for our part of the world – Europe, is completely dependent on. In addition, the producers of these materials are often countries that the EU (and EEA) do not want to be dependent on. Norway has several deposits of rock types that can make important contributions to these critical metals. The government and the EU will invest in metals mined and produced in Europe. But extracting metals from a rock or a mineral concentrate is not trivial.

Over 80 percent of the rare earth species come from mines in China. The EU launched last year (2023) the Critical Raw Materials Act, where the aim is that at least 10 per cent of critical materials used by the EU must come from sources in Europe. The EU has also set itself the goal that 15 percent should come from recycled material. Through its mineral strategy, the Norwegian government has agreed to the objectives of the Critical Raw Materials Act.

Rare earth metals are used, for example, for magnets in electric cars, computer equipment, wind turbines, reactors, televisions, laser equipment and military equipment to name a few.

BorealEx has been established to develop environmentally friendly technologies that will be used to produce critical metals and substances for the European market.