2023-07-06 22:15:34
Europe tries to break the dependence of China and Russia on critical minerals. And she has hit the jackpot.
Norway has announced that it has found a huge rock of phosphates, vanadium and titaniumwhich is capable of meet global demand of these minerals for use in batteries, solar panels, and fertilizers, for 50 years.
As reported Euractivethe mining company Norway Mining has confirmed that this huge rock contains 70,000 million tons of phosphates. It becomes like this the world’s largest reserve, with a lot of difference. It surpasses Morocco, with 50,000 million tons, and China, with 3,200 million.
Currently China, Vietnam y Kazakhstan are the main phosphate suppliers.
A more independent EU from China and Russia
For decades, China and Russia have been two of the leading countries metal and mineral suppliers for the technology industry.
But the invasion of Ukraine and the political tension between the United States and China, puts the European Unionwhat does not have reserves of many of these minerals. Just a few days ago, China announced that it will limit the export of gallium and germanium abroad.
This new scenario has made many countries reactivate their mining companiesin search of new deposits of critical metals and minerals.
He 90% of the world’s phosphate goes to the fertilizer industry. But it is also used, in small quantities, in the manufacture of batteries for electric cars, solar panels, chips and semiconductors. He vanadium y titanium are in high demand in the aerospace and arms industryaccording to Euractiv.
The norwegian rock has reserves of all these minerals and metalswhich the European Union considers “critical” for meet global demand for 50 years.
The big problem with each country going back to mining its own minerals (if it has them) is that, in the case of phosphates, the process is highly polluting. Norway Mining has promised that “Norway will be able to meet stricter environmental standards when extracting and refining these minerals using carbon capture and storage technology.“.
The discovery of a large reserve of phosphates, vanadium and titanium in Norwaymakes the European Union is less dependent on China and Russia. They are critical minerals and metals vital to the industries of fertilizers, batteries, solar panels, spacecraft and weaponry.
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