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Massive mineral deposit discovery could meet global battery and solar panel demand ‘for next 100 years’


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As the transition to electric vehicles accelerates we have a friendly country that can supplty what we had to go to Russia and China for, the minerals to make batteries. These guys will be in production by 2028.

 

Excerpt:

"A huge phosphate rock deposit discovered in Norway contains enough minerals to meet the global demand for batteries and solar panels for the next 100 years, according to the mining company that controls it.

Norge Mining said up to 70 billion tonnes of the non-renewable resource may have been uncovered in south-western Norway, alongside deposits of other strategic minerals like titanium and vanadium.

Phosphate rock contains high concentrates of phosphorus, which is a key component for building green technologies but currently faces significant supply issues.

Phosphorus was first discovered in 1669 by German scientist Hennig Brandt, who was searching for the philosopher’s stone. While it proved ineffective in turning ordinary metals into gold, it has become an essential component in lithium-iron phosphate batteries in electric cars, as well as for solar panels and computer chips.

Russia previously controlled the world’s largest ultra-pure phosphate rock deposits, with the European Union warning that these “critical raw materials” have a high supply risk.

The EU is currently almost entirely dependent on imports of phosphate rock from the rest of the world, according to a report from The Hague Centre for Strategic Studies, with China, Iraq and Syria also home to large deposits.

The report, which was published before the discovery of the massive Norwegian deposit, warned that the EU should be “concerned about phosphate rock shortages”.

An article in the scientific journal Nature last year warned of imminent supply disruptions of phosphorus, citing Russia’s invasion of Ukraine and the subsequent economic sanctions as a potential cause of market volatility.

The global economy consumes an estimated 50 million tonnes of phosphorus each year, with scientists warning earlier this year that the planet could face a “phosphogeddon” if supply trends continue.

“The buyers’ market is becoming increasingly crowded by limited trade – due to political instability in several source countries, as well as international sanctions imposed on others,” Norge Mining noted in a June blog post. “This is forcing importers to fear an impending crisis.”

 

Source with much more:

https://finance.yahoo.com/news/massive-mineral-deposit-discovery-could-040602239.html

RV/Derek
http://www.rvroadie.com Email on the bottom of my website page.
Retired AF 1971-1998


When you see a worthy man, endeavor to emulate him. When you see an unworthy man, look inside yourself. - Confucius

 

“Those who can make you believe absurdities, can make you commit atrocities.” ... Voltaire

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On 7/6/2023 at 7:34 PM, Lou Schneider said:

Good news, but does nothing to address the supply of lithium, the primary component in lithium phosphate batteries,

No but that was not the topic. You can Google it and find we have enough here in the US. I just did.

RV/Derek
http://www.rvroadie.com Email on the bottom of my website page.
Retired AF 1971-1998


When you see a worthy man, endeavor to emulate him. When you see an unworthy man, look inside yourself. - Confucius

 

“Those who can make you believe absurdities, can make you commit atrocities.” ... Voltaire

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