A second exploration of the mine revealed that the total share of rare earth elements (TREE) may amount to as much as 15,285 ppm, 133% more than the previous estimate of 6,575 ppm.
Additional testing has been planned to better understand the extent of REE mineralisation at the Blötberget mine.
Located in Dalarna, Sweden, Blötberget is a historical mine that was operated by Swedish-Finnish company SSAB until 1979. Nordic Iron Ore is currently redeveloping the site as part of its Ludvika mines development plan.
The mine is estimated to contain 34.1Mt of recoverable iron ore reserves grading 36.27% Iron (Fe).
Rare earth elements
Nordic Iron Ore expanded its exploration activities to include REEs in early 2023.
REEs are seventeen metallic elements that are heavily used in manufacturing technology.
Their fluorescent, conductive and magnetic properties make them crucial to several digital and clean energy products. Because of these applications, their demand is expected to rise in the near future.
The metals found in Blötberget are used to produce permanent magnets, which are essential components of electric cars and wind turbines.
"Following our continued testing which validate previous results regarding rare earth elements, we will now proceed with our exploration program in order to better understand the size and scale of the mineralization. Our hope is that we, in addition to ultra high-grade iron ore concentrate, can produce a bi-product concentrate that includes phosphorate and rare earth elements," said Ronne Hamerslag, chief executive at Nordic Iron Ore.
As the exploration is still at an early stage, no certified standard has been used to ensure the integrity of the analysis process.
