Extinct Norwegian Volcano Holds Massive Rare Earth Deposit

The Fen Carbonatite Complex in Norway may secure Europe's rare-earth-element supply chain with the discovery of a significant deposit, Live Science reported.

The complex, once an active volcano about 580 million years ago, now exposes a magma-filled pipe rich in rare earth elements like neodymium and praseodymium. I Photo: James St. John Wikimedia Commons

A report by Rare Earths Norway revealed an estimated 8.8 megatons of rare earth oxides, including 1.5 megatons expected to be rare earth magnets, crucial for wind turbines and electric vehicles.

CEO Alf Reistad emphasized the transformative potential of this deposit for Europe's rare earths value chain.

 The complex, once an active volcano about 580 million years ago, now exposes a magma-filled pipe rich in rare earth elements like neodymium and praseodymium. Mining estimates focus on the upper section of the ancient volcanic pipe, but further deposits may extend deeper below sea level.