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Rare Earths Norway has announced a mineral resource estimate that it said shows its Fen Carbonatite Complex in the country’s southeast hosts continental Europe’s largest deposit of rare earth elements.
After three years of targeted exploration, REN delivered this week a Maiden Mineral Resource estimate for the Fen carbonatite complex, reported according to the JORC 2012 code. REN holds an exploration permit covering approximately 90% of the Fen Carbonatite Complex. The Maiden Inferred Mineral Resource, which satisfies the RPEEE is at 559 Mt at 1.57% Total Rare Earth Oxides . This means that the Fen Carbonatite Complex contains 8.8 Mt TREO with a reasonable prospect for eventual economic extraction, the company said.Within the TREOs, there is estimated to be 1. 5 Mt of magnet-related rare earth used in electric vehicles and wind turbines.The current work provides a Mineral Resource estimate depth to – 468m below mean sea level.
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