Ground Troves: Norway's Rare Earth Reserves Much Larger Than Thought - Norway's Fensfeltet Holds Nearly Twice the Rare Earth Minerals Initially Estimated

A massive rare earth deposit in Norway, Fensfeltet, has been found to contain nearly double the amount of minerals previously estimated. Located about 150 kilometres southwest of Oslo, it now holds 15.9 million metric tons of rare earth oxides. These elements are vital for electric vehicle motors and defence technologies, both growing industries in Europe.

The updated estimate of 15.9 million tons—up from 8.8 million—was announced by Rare Earths Norway (REN), the company holding mining rights to the area. Despite the significant increase, the timeline for extraction remains unchanged, with operations still set to begin in the first half of the 2030s.

The deposit contains high concentrations of neodymium and praseodymium, two rare earth elements essential for permanent magnets in electric vehicles and military applications. The European Union has classified these materials as critical raw materials, highlighting their importance for economic and security reasons.

REN CEO Alf Reistad has urged authorities to prioritise the project due to its strategic value. Currently, China dominates the global rare earths market, making European sources particularly significant. However, before mining can start, the project must meet strict environmental regulations. The deposit lies in a biodiverse region with old-growth forests, requiring careful compliance with conservation standards.

The Fensfeltet deposit could play a key role in reducing Europe's reliance on imported rare earths. Extraction is not expected to begin until the early 2030s, as environmental approvals remain a priority. The site's size and mineral content position it as a potential major supplier for green and defence industries.