Fen Rare Earth Deposit Development

planned

Norway will take over the planning process for the Fen rare earth deposit, which is set to become Europe’s largest rare earth project. The project aims to accelerate development after a significant upward revision nearly doubled its estimated size. The deposit contains 15.9 million metric tons of rare earth oxide, including key materials used in permanent magnets for electric vehicles, wind turbines, electronics, and defense applications. Production is expected to begin in late 2031 with output of 800 tons of NdPr by 2032, meeting about 5% of EU demand.