Topline A Swedish mining company announced this week it discovered more than a million tons of rare earth minerals near a mining pit in the country’s far north, providing the state-owned company an unexpected potential windfall, and offering hope to various countries (including the United States) eager to use the metals for wind turbine and electric vehicle production—but heavily reliant on China for them. Swedish mining company LKAB announced this week it had found Europe’s largest deposit of rare earth … [+] metals.TT News Agency/AFP via Getty Images Key Facts In a statement on Thursday, LKAB, a state-owned mining company, said it found “significant deposits” near a mine it operates near the city of Kiruna—the largest deposit of its kind in Europe. The metals, which are not mined in Europe, according to the company, are essential in the production of common household electronics like televisions, computers and smartphones, as well as electric vehicles and wind turbines, as well as defense systems, like night-vision technology and military jets. The majority of the world’s supply of… Click below to read the full story from Forbes
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