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Rare earth deposits found in Sweden and can provide hundreds of jobs and wealthMonday, 28 November 2011
One of the world's largest deposits of so-called rare earth metals have been found north of Gränna in Sweden. The deposit is worth billions and can create several hundred new jobs and support Swedish industries that rely of such scared metal.
AdvertisementTest drilling indicates that the deposit is the fourth largest of its kind in the world. It's about the so-called rare earth metals, more than a dozen different metals such as dysprosium and yttrium, metals that are very high in demand right now.
They can be compared to silver in terms of value. They are used in modern electronics, for example, wind turbines and electric cars but also in computers and mobile phones.
The deposit in Gränna is large; it is expected to last for at least 40 years, maybe even longer. The plans are to break the mines as a large open pit: 700 meters long, 200 feet wide and 100 feet deep. When the extraction is finished, the hole will be turns into a lake instead, according to the intended plan.
Now the great efforts to seek authorization from the various authorities to open the mine begin. And if everything goes as planned, the company expects that mining could start in 2016.
According to Henning Holmström, project manager at Tasman Metals in charge of the exploration, the discovery will create several hundred new jobs, exactly how many is too early to tell.
By Scancomark.se Team
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