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Neodymium is displayed at the Inner Mongolia Baotou Steel Rare-Earth Hi-Tech Co. factory in Baotou, Inner Mongolia, China.

Nelson Ching | Bloomberg | Getty Images

Mining firm Rare Earths Norway says it has discovered Europe’s largest proven deposit of highly prized rare earth elements, potentially reflecting a watershed moment for both the Nordic country and the broader region.

One of the few deposits not owned or controlled by China, the discovery of continental Europe’s largest rare earths deposit is considered a welcome boost in Europe’s bid to break China’s rare earths dominance.

Demand for rare earths and critical minerals is expected to grow exponentially in the coming years as the clean energy transition picks up pace.

Rare Earths Norway said in a June 6 statement that a mineral resource estimate at its Fen Carbonatite Complex in the southeast of the country boasts 8.8 million metric tons of total rare earth oxides (TREOs) with a reasonable prospect for economic extraction.

Within the TREOs, which are considered vital to the global shift away from fossil fuels, the company says there is an estimated 1.5 million metric tons of magnet-related rare earths which can be used in electric vehicles and wind turbines.

The discovery eclipses a massive rare earths deposit discovered last year in neighboring Sweden.

Alf Reistad, CEO of Rare Earths Norway, told CNBC that the discovery at Fen represents a “great milestone” for the company.

“It is important to state that there is absolutely no extraction of rare earth elements in Europe today,” Reistad said via videoconference on Monday.

One of the aims of the Critical Raw Materials Act is to extract at least 10% of the EU’s annual demand for rare earths by 2030 and Rare Earths Norway says it hopes to contribute to that goal.

Rare Earths Norway said the rare earths deposit in Telemark, roughly 210 kilometers (130 miles) southwest of Oslo, is likely to underscore Norway’s position as an integral part of Europe’s rare earth and critical raw material value chain.

Rare earths ‘more important’ than oil and gas

The International Energy Agency has said that today’s supply falls short of what is needed to transform the energy sector. That’s because there is a relatively high geographical concentration of the production of many energy transition elements.

Most rare earth elements are located in China, with the world’s second-largest economy estimated to account for 70% of global rare earth ore extraction and 90% of rare earth ore processing.

China was the EU’s largest partner for imports of rare earth elements in 2022, accounting for 40% of overall imports based on weight.

Workers transport soil containing rare earth elements for export at a port in Lianyungang, Jiangsu province, China October 31, 2010.

Stringer | Reuters

Looking ahead, Rare Earths Norway said that exploration work at the complex will continue, with further drilling scheduled for next month. The company said it is working to develop the first stage of mining by 2030.

Asked whether he believed the discovered resources could be considered of more value than Norway’s oil and gas supplies, Rare Earths Norway’s Reistad replied, “Not of more value but [European Commission President] Ursula von der Leyen has stated that lithium and rare earth element will soon be more important than oil and gas.”

“So, it will be more important but not have the same value, of course,” he added.

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Wheel-E Podcast: 1M Tern miles, kids on Sur Rons, LiveWire scooter, more

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Wheel-E Podcast: 1M Tern miles, kids on Sur Rons, LiveWire scooter, more

This week on Electrek’s Wheel-E podcast, we discuss the most popular news stories from the world of electric bikes and other nontraditional electric vehicles. This time, that includes Tern’s NYC e-bike delivery fleet surpasses 1 million miles, the CPSC has a stark warning about Rad’s e-bike batteries, what parents should know if their kid wants a Sur Ron e-moto, JackRabbit MG Doble review, Strutt’s EV1 electric mobility chair, and more.

The Wheel-E podcast returns every two weeks on Electrek’s YouTube channel, Facebook, Linkedin, and Twitter.

As a reminder, we’ll have an accompanying post, like this one, on the site with an embedded link to the live stream. Head to the YouTube channel to get your questions and comments in.

After the show ends, the video will be archived on YouTube and the audio on all your favorite podcast apps:

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Here are a few of the articles that we will discuss during the Wheel-E podcast today:

Here’s the live stream for today’s episode starting at 9:00 a.m. ET (or the video after 10:00 a.m. ET):

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New electric SANY reach stacker gets to work at Houston Terminal

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New electric SANY reach stacker gets to work at Houston Terminal

The Port of Houston took a big step towards electrifying its operations this week, when the stevedores at Houston Terminal deployed the first new SANY electric reach stacker at the major seaside port – and it won’t be the last.

Multinational equipment brand SANY launched its latest 50-ton electric reach stacker earlier this summer. The new machine drew headlines by cleverly pairing gravity and a KERS-style regenerative braking system attacked to its boom to generate electricity as it lowers loads. The tech significantly improved the machine’s operating efficiency and reduced the sort of costs typically associated with charging and downtime.

With the purchase of the new SANY electric reach stacker from local equipment dealer, Equipment Depot, Houston Terminal has begun to do its part to help keep the air and water around America’s busy seaports pollution-free.

“In this market, there’s a shift towards sustainable equipment,” explains Greg Schertz, Sr. National Account Executive at Equipment Depot — a national equipment supplier that sells and services to roughly 85% of US sea ports. “Electric equipment is a growing trend, and it has become more than a conversation point. Actual machines are going into service and are proving their capability.”

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Equipment Depot is quick to point out that the national move towards electrification isn’t about regulations. “The bigger picture is that the world has become more of a global market,” says Chad Larson, VP of Heavy Trucks and Port Equipment at Equipment Depot. “(And) in the port industry, there are many relationships and parent companies with ties into Europe and other parts of the world where zero carbon initiatives are more progressive than the US.”

Robert Marshall, General Manager of Houston Terminal, echoes Schertz’ sentiment, “Electric equipment has a much easier, much simpler maintenance program, because basically you’re just maintaining tires.”

SANY electric reach stacker


Sany launches world’s first 50-tonne energy storage reach stacker
50t reach stacker; via SANY.

At its launch in August, SANY said its new 50t reach stacker would be available with a 512 kWh swappable battery pack. That pack isn’t just huge, it’s compatible with the brand’s other electric equipment assets, and can support both DC fast charging when swapping isn’t practical and the grid itself by “plugging in” to the company’s BESS modules when not needed.

Houston Terminal bought the SANY unit with help from a Texas Emissions Reduction Plan (TERP) Grant, part of TERP’s Seaport and Rail Yard Areas Emissions Reduction (SPRY) Program to replace older drayage trucks and equipment at seaports and rail yards. Houston Terminal intends to apply for another TERP grant to buy a second reach stacker in 2026.

SOURCE | IMAGES: Equipment Depot; via AJOT.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

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Sandvik gets €500M from European Investment Bank for new, smart EVs

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Sandvik gets €500M from European Investment Bank for new, smart EVs

The mining equipment experts at Sandvik have been developing next-generation electric equipment options for years – largely on their own. Now, with a €500 million capital injection from the EIB, the company is ready to get serious about its next-generation machinery.

The European Investment Bank (EIB) is the lending arm of the European Union (EU), and its core mission is to strengthen the global competitiveness, technological innovations, and sustainability initiatives of European companies like Sandvik by providing affordable financing for R&D projects conducted on the continent.

“We have a strong strategic focus on developing solutions that strengthen our technology leadership, and that enhances productivity, safety and sustainability for our customers,” explains Stefan Widing, President and CEO of Sandvik. “The EIB financing supports our R&D initiatives and provides flexibility to our overall funding strategy.”

The €500 million loan has a seven-year term, and will support Sandvik’s efforts to develop new advanced, productive, safe, and (above all) sustainable heavy equipment solutions across the company’s business lines.

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Electrek’s Take


We’ve covered Sandvik’s electric equipment several times over the years, from their surface drill rigs to their underground loaders to their quarry- and concrete-focused electric cone plants, and the brand’s commitment to sustainability and operator safety has been commendable. Even the company’s push towards automation and AI, often seen as a corporate tactic to slash labor costs and boost stock prices before the executives bail out with a fat stack of cash fulfill their exit strategies, seems to be genuinely motivated by worker safety in one of the world’s most dangerous environments.

Of course, I said that about Volvo and they’re actively suing California to be able to sell more diesels as aI type this, so what do I know?

SOURCE | IMAGES: Sandvik.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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