Ground Troves: Norway's Rare Earth Reserves Much Larger Than Thought - Norway's massive rare earth discovery could reshape Europe's green future

A rare earth deposit in southern Norway has seen its estimated reserves nearly double, reinforcing its potential importance for Europe's green and defence industries. The Fensfeltet site, located around 150 kilometres southwest of Oslo, now holds 15.9 million metric tons of rare earth oxides—up from an earlier estimate of 8.8 million tons.

The Fensfeltet deposit contains significant quantities of neodymium and praseodymium, two elements critical for manufacturing electric vehicle motors and defence technologies. These materials fall under the European Union's classification of critical raw materials, essential for strategic sectors.

Rare Earths Norway (REN), the company holding the mining rights, plans to develop an underground operation at the site. Despite the increased resource estimate, the company maintains its target to begin extraction in the first half of the 2030s, provided environmental approvals are secured.

The deposit sits in a biodiverse region with old-growth forests, meaning any mining activity will face strict environmental regulations. REN CEO Alf Reistad has stated that the updated figures strengthen the project's strategic value for both Norway and the EU.

The revised estimate places Fensfeltet among Europe's largest known rare earth deposits. If approved, the mine could supply key materials for electric vehicles and defence applications. Extraction remains dependent on meeting environmental standards and regulatory timelines.