Why we need fast alternatives to Kiruna
Raw materials expert Andreas Kroll in Sachwertmagazin
Rare earths have been on everyone’s lips since the Kiruna discovery. In an article for Sachwertmagazin, raw materials expert Andreas Kroll describes it as an important step that the issue of security of supply has reached the general public. However, the discovery in northern Sweden, weighing millions of tons, is not yet a solution to this problem.
Without rare earths, there would be no smartphones or notebooks. The production of LED lights, electric motors and many other products would also come to a standstill. There would also be no wind turbines, as they require neodymium oxide and dysprosium oxide for their construction. The success of the energy transition therefore also depends on the availability of these critical commodities.
We need rare earths faster for the energy transition
Time is of the essence. We can’t wait 15 years. In the long term, the northern Swedish treasure will certainly help us to become independent of China. After all, 80% to 85% of these commodities still come from China. But we need rare earths now. By 2030, Europe is expected to reduce greenhouse gas emissions by at least 55% compared to 1990 levels. That would be in 7 years. Until then, our wind turbines will have to keep running.
Scarcity despite numerous deposits
European rare earth deposits are not only found in Sweden. Greenland, Norway, Ukraine, and Germany also possess resources of these scarce metals. Theoretically, these countries could help the industry get by for a few years. In practice, however, it takes 10 to 15 years to bring a mine into operation. It is good and important that European governments are discussing new discovery sites and raw material partnerships. What country representatives are overlooking, however, is the nature of the scarcity of these metals. This has nothing to do with there being too few rare earths in the ground.
In order for these critical commodities to get us through the energy transition and ensure security of supply for European industry, they must exist in reality and not just as a possibility. It feels like the whole world is talking about rare earths, but you never get to see them. The team behind Noble Elements and Noble BC wants to change that.
Visit our "secret" warehouse in Berlin!
On Friday, January 27, 2023 at 5 p.m., you can therefore get to know our “secret” warehouse for strategic commodities in the middle of Berlin. Our team of commodities experts will guide you through the warehouse, where you will immerse yourself in the fascinating world of technology metals and rare earths. Find out at first hand what opportunities are available to investors in times of inflation and the energy transition.