Norway Fast-Tracks Largest Rare Earth Mining Dig

Written by Martin Lynch, European News Editor for IIR News Intelligence (Sugar Land, Texas)

Summary

Norway's government has stepped in to take over the planning process for the country's largest rare earth elements (REE) mining project.

Europe's Largest Deposit

The Norwegian government has stepped in to accelerate the planning process for Europe's largest rare earth elements (REE) project, developers of  which recently announced that estimates are 81% higher than previously revealed. 

In March, Rare Earths Norway AS (REN) announced that estimates for the Fen project in Telemark showed that total rare earth oxide (TREO) content (indicated and inferred) had jumped from 8.8 million tonnes in 2024 to 15.9 million tonnes in 2026. For additional information, see April, 2026, article -- Norway's Bumper Rare Earths Deposit. Industrial Info Resources is tracking the project here. Government intervention in the planning process is essentially a fast-tracking move that will protect the project from certain protests and objections. With a proposed startup date of 2031, REN believes it can produce 800 tons of neodymium and praseodymium (NdPr) by 2032, equivalent to 5% of the European Union's (EU) demand. The European Commission (EC) has classed them as the most critical raw materials in terms of supply risk as they are vital for the manufacture of permanent magnets for electric vehicles (EVs), wind turbines, electronics and defence. Europe currently relies almost entirely on China for rare earth magnets.

According to Industrial Info Resources data, there are 25 active rare earths mining, processing and recycling projects in Europe, worth more than US$3 billion in investment. Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can click here for the project reports. 

Great Importance to Norway/Europe

"This is an important decision," stated Prime Minister Jonas Gahr Støre. "The field has the largest documented occurrence of rare earths in Europe. The Fens field could be of great importance to Telemark, Norway and European security of supply and competitiveness. To ensure access to critical minerals in the future, it is important to increase production both in Norway and other countries with which we have security policy cooperation. It could also create jobs and a new industry in Telemark. It is therefore important to maintain good progress in developing the Fens field." The government said that the local Nome authorities had requested its participation and means that the state will be responsible for implementing the planning process and will adopt the zoning plan. Once complete, no objections can be raised to state plans, and no appeals can be made against the zoning decision. 

Reducing China's Dominance

The government said that around 70% of rare earth extraction occurs in China, highlighting the potential deposits of neodymium and praseodymium, essential in strong magnets. It claimed that having access to such magnets is important for "maintaining strategic value chains for Europe and the West.". Norway's Minister of Trade and Industry Cecilie Myrseth, commented: "Facilitating the extraction of rare earths in the Fens field is an important issue for the government. Rare earths are becoming increasingly important geopolitically. It is therefore important that we facilitate industrial development that contributes to value creation and jobs, but which can also help to meet security and defense policy goals."

Key Takeaways

• Norway's government is fast-tracking Europe's largest rare earth elements (REE) mining project by taking over the planning process. 
• Deposit estimates for the Fen project in Telemark have jumped 81% from 8.8 million tonnes in 2024 to 15.9 million tonnes in 2026. 
• According to Industrial Info Resources data, there are 25 active rare earth mining, processing and recycling projects in Europe worth more than US$3 billion in investment.

About Industrial Info Resources

Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, Industrial Info Resources is tracking over 250,000 current and future projects worth $30.2 Trillion (USD).