Fen Rare Earth Deposit Development

planned

Norway's government has taken over planning for the Fen rare earth deposit, Europe's largest, to accelerate its development following a resource upgrade that nearly doubled its estimated size. The deposit is estimated to hold 15.9 million metric tons of rare earth oxide. The project aims to support Europe's supply security and reduce reliance on China by producing key materials used in electric vehicles, wind turbines, electronics, and defense applications. Production is expected to start in late 2031 with an output of 800 tons of neodymium and praseodymium by 2032.