Table of Contents
LKAB, a government-controlled mining company in Sweden, said that it discovered a large amount of rare earth elements.
The company believes it is the largest amount of rare earths in all of Europe. LKAB says that their mine located in Kiruna, Sweden has more than 1 million metric tons of rare earth elements.
Currently, China produces more than 80% of rare earths in the world. Europe gets 95% of its rare earths from China. The EU hopes that the discovery in Sweden will help reduce its dependency on China for the rare earth elements.
The CEO of LKAB, Jan Mostrom, says that this is good news for the company, the region of the mine, the Swedish people, Europe and the climate. However, the company says it will take between 10 to 15 years to start mining the elements and shipping them.
Additionally, the cost of rare earths from Sweden would be higher than rare earths from China because of better working conditions and pay for employees.
Rare earth elements are needed to make electric cars, smartphones, renewable energy systems and more. The EU estimates that the demand for rare earth elements will increase by 400% in the next 10 years.
Vocabulary
- Mining – to dig up valuable minerals from the ground
- Discover – to find, especially unexpectedly; to become aware of;
- Rare earth elements – 17 different “metals” that are similar and found underground
- Believe – to think; to imagine; to have the opinion of; assume; suppose
- Mine – a big hole in the ground that people make to get material like coal, gold and other metals
- Million – 1,000,000 – one-million
- Metric ton – 1,000 kilograms (kg)
- Produce – to create or make something
- The European Union (EU) – 27 countries in Europe that work closely together
- Discovery – the act of finding or learning something that was previously unknown.
- Reduce – to make less; make smaller; decrease; bring down; shrink
- Dependency – to rely on someone or something for support or resources;
- CEO (Chief Executive officer) – the top person in a large company; president; boss
- Region – a large area of the Earth; an area of land with similar qualities/characteristics
- Climate – the weather conditions and weather patterns of a place over a long period of time
- Element – a simple substance that cannot be reduced to smaller chemical parts
- Additionally – also; moreover; in addition; furthermore; plus
- Working conditions – how safe, comfortable, and well-equipped a workplace is
- Renewable energy – energy generated from renewable sources (wind, solar, water, etc.)
- Estimate – guess; approximate; judge; suppose
- Demand – a need for goods or services that customers want to buy or use; a need or want; a need for something to be sold or supplied
Quiz
Discussion Questions
- What do you think the pros and cons are of mining for rare earth elements? Are mines good for the environment?
- What problems might LKAB have when mining and sending the rare earth elements from Kiruna, Sweden?
- In your opinion, how important is the new discovery of rare earth elements in Sweden for the EU in terms of making less dependent on China for these resources?
Original Story
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