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Huge Rare Earths Discovery is Gamechanger in Americas Trade War with China
oilprice.com ^ | June 20, 2024 | Tom Kool

Posted on 06/21/2024 11:19:55 AM PDT by Red Badger

At the height of the American war machine’s realization that China controls nearly all of its raw materials, two new developments in Europe now suggest that the West has a fighting chance to secure critical metals for the future: A major discovery in Norway, and a potentially game-changing acquisition in Greenland.

In mid-June, Norwegian mining company Rare Earths Norway unveiled one of the largest deposits of rare earth elements in Europe in the Fen Carbonatite Complex in the country’s south. That discovery followed a vote in Norwegian parliament that paved the way for offshore, deep-sea mining of rare minerals in the country’s remote northern waters, Fortune magazine reported, making this the first country in Europe to allow such seabed mining activities. At the same time, Critical Metals Corp announced an acquisition deal for what it believes is the largest critical metals deposit in the world, in Greenland.

On June 10, Critical Metals Corp signed an agreement to acquire a controlling interest in Greenland’s Tanbreez project, which it says is the largest rare earth deposit in the world. Once operational, CRML expects it to supply Europe and North America. And on June 18 the company announced it had completed its initial investment for the Tanbreez acquisition, lending more confidence to the deal and further de-risking the transaction, according to a company press release.

Tanbreez is said to have over 28 million tonnes of total rare earth oxides, the company estimates internally, and nearly 30% of that is the most coveted “heavy” rare earth elements (HREE).

(Excerpt) Read more at oilprice.com ...


TOPICS: Business/Economy; Canada; China; European Union; Foreign Affairs; Front Page News; Government; Politics/Elections
KEYWORDS:
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1 posted on 06/21/2024 11:19:55 AM PDT by Red Badger
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To: Red Badger

So they can destroy the planet for batteries.


2 posted on 06/21/2024 11:21:29 AM PDT by NWFree (Somebody has to say it 🤪)
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To: Red Badger

The rare metals are for batteries for the electric vehicles that no one is buying....


3 posted on 06/21/2024 11:22:41 AM PDT by exnavy
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To: Red Badger
Get ready!
4 posted on 06/21/2024 11:23:45 AM PDT by xoxox
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To: NWFree

Well, this project is in Greenland, which is not exactly a garden spot.


5 posted on 06/21/2024 11:25:44 AM PDT by absalom01 (You should do your duty in all things. You cannot do more, and you should never wish to do less.)
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To: Red Badger

I believe a certain President wanted to buy Greenland in 2018.
Now we know why.


6 posted on 06/21/2024 11:25:49 AM PDT by Izzy Dunne (Hello, I'm a TAGLINE virus. Please help me spread by copying me into YOUR tag line.)
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To: Red Badger

And in other news incredibly rare endangered three speckled titmouse only lives where rare earth mineral deposits are discovered.


7 posted on 06/21/2024 11:27:05 AM PDT by Organic Panic (Democrats. Memories as short as Joe Biden's eyes)
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To: Organic Panic

😆


8 posted on 06/21/2024 11:37:48 AM PDT by immadashell (Save Innocent Lives: Ban Gun Free Zones)
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To: exnavy

“The rare metals are for batteries for the electric vehicles that no one is buying....”

The world’s best selling car id an EV.


9 posted on 06/21/2024 11:43:40 AM PDT by TexasGator
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To: Red Badger

I may be mistaken, but I think “rare earth” minerals are important in applications beyond just electric car batteries. They’re also used for micro-chips and other types of applications. I also think we have domestic sources that we refuse to mine.


10 posted on 06/21/2024 11:56:43 AM PDT by mbrfl
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To: Red Badger

“ At the height of the American war machine’s realization that…”

No bias in this article. Lol.

This is how articles in Rebolutionary Worker started.

.


11 posted on 06/21/2024 12:15:29 PM PDT by ifinnegan (MDemocrats kill babies and harvest their organs to sell)
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To: mbrfl
The issue with the mining of all minerals in the USA is that we have the EPA and other state and federal government agencies making sure they do not pollute the environment.

China and the Congo do not have this governmental restrictions.

Lithium and cobalt is extremely toxic. The long term birth defects alone would be more than most corporations want to be exposed to the potential tort liability.

Plus China now controls so much of the production of these two that they can purposely overproduce the market just to eliminate the competition. This seems to be the case with the cobalt mine in Idaho that opened then closed a few years back.

The majority of the worlds nickle comes from Indonesia and the Philippians.

The majority of the worlds copper comes from Chile and Peru.
One of those two companies nationalized the production because they were concerned China would come in and buy up all the mines like they did in the Congo.

12 posted on 06/21/2024 12:20:39 PM PDT by woodbutcher1963
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To: Red Badger

Except that EV’s ARE DEAD...the FAD is OVER!


13 posted on 06/21/2024 12:25:48 PM PDT by oil_dude
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To: TexasGator

“The rare metals are for batteries for the electric vehicles that no one is buying....”

“The world’s best selling car id an EV.”

And you can’t give them away. Hertz just sold their entire fleet of practically new Teslas in a FIRE SALE for $30,000 each. ALSO, 65% of EV owners say they will never buy another one.


14 posted on 06/21/2024 12:30:18 PM PDT by oil_dude
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To: oil_dude

” Hertz just sold their entire fleet of practically new Teslas in a FIRE SALE “

Not true.


15 posted on 06/21/2024 12:33:14 PM PDT by TexasGator
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To: mbrfl

Yes, but the average car battery pack is 2000-4000 pounds of mainly lithium


16 posted on 06/21/2024 12:34:09 PM PDT by oil_dude
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To: TexasGator

I read the article. About 10 days ago.


17 posted on 06/21/2024 12:36:34 PM PDT by oil_dude
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To: TexasGator

Oh, ok.


18 posted on 06/21/2024 12:36:53 PM PDT by exnavy
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To: woodbutcher1963

“Lithium and cobalt is extremely toxic. The long term birth defects alone would be more than most corporations want to be exposed to the potential tort liability.”

-—————Top ten biggest lithium mines in the world—————————

2. Thacker Pass Lithium Project – 179.4Mt

Thacker Pass Lithium Project is being developed in two stages. Image courtesy of Lithium Americas Corp.
The Thacker Pass lithium project is located in Humboldt County, Nevada, US. It is 100% owned and operated by Lithium Americas.

https://www.mining-technology.com/features/top-ten-biggest-lithium-mines/?cf-view


19 posted on 06/21/2024 12:38:39 PM PDT by TexasGator
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To: TexasGator

https://www.bloomberg.com › news › newsletters › 2024-01-12 › hertz-s-tesla-fire-sale-portends-ev-reckoning-no-one-wants
Hertz’s Tesla Fire Sale Portends EV Reckoning No One Wants

https://www.msn.com › en-us › money › companies › ev-slump-hertz-fire-sale-take-used-teslas-to-no-haggle-25-000-price › ar-BB1nKObt
EV slump, Hertz fire sale take used Teslas to ‘no haggle’ $25,000 ... - MSN


20 posted on 06/21/2024 12:39:32 PM PDT by oil_dude
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