In world geopolitics, having oil, gas or rare earths (let us remember that They are neither earth nor are they rare) is the equivalent of starting a game of mus with several kings in hand. And if we talk about rare earths, this map of the world’s (known) reserves It shows that China has the best possible hand. Finding rare earths in your territory is very good, then you have to know how to extract them and create an industry around them. This is neither easy nor quick nor cheap. The good news is that the European Union could cover 18% of its lanthanide needs. The not so good thing is that first he has to launch a megaproject: the Per Geijer supermine, in Kiruna (Sweden).
Per Geijer has never been just any mine. In fact, it is the underground iron mine largest in the world (the underground surname is important in that the Brazilian Carajás Complex produces more but in the open pit and the Australian Hamersley Ranges has a larger deposit) and also the most ambitious and complex metal mining project that the European Union has faced in decades. The mine is operated by the state through the public company Luossavaara-Kiirunavaara Aktiebolag (LKAB).
That it has rare earths makes it special, but how they are present is also particular: it is not a pure lanthanide mine, but a high-grade iron deposit with significant concentrations of phosphorus and rare earth oxides. How much? Early 2026 LKAB estimates 2.2 million tons of rare earth oxides, more than double what I thought about 2023.
Mine in Kiruna. LKAB
Why is it important. As noted in the intro, because China processes about 90% of the world’s rare earths and taking into account the mine’s estimates, if these rare earths could be extracted for use, the European Union could cover 18% of its needs. according to LKAB estimates. Own resources instead of having to buy them, which leads to dependencies on third parties, market fluctuations and diplomacy.
In mining, the time between discovery and the first ton of commercial around between 15 and 20 years old. But the European Union has considered it as a strategic project, so it is on the “fast track” thanks to the Critical Raw Materials Law (CRMA).
under the microscope. The presence of these oxides in a high-grade iron mine like Per Geijer hides a couple of aces up its sleeve: processing synergy and phosphorus, another strategic element (but less so). And the cost of extracting rare earths is more profitable when there is already an operation to extract iron.
On the other hand, these lanthanides are trapped in apatite, which is essentially calcium phosphate. Through magnetic separations for iron and chemicals, two high-value products emerge: one is the rare earth concentrate and the other is phosphoric acid, essential for fertilizers.
The northern triangle. Although the site is located in Kiruna, the project is actually an industrial ecosystem made up of three points: Kiruna for extraction, Malmberget for concentration and Luleå is in charge of separation.
Thus, the Kiruna deposit provides the mineral from a new deposit of iron, phosphorus and rare earths discovered next to the current mine, about 700 meters away. Malmberget provides the volume of rare earths from the already operational iron mine from apatite waste and also from what will be extracted. Finally, Luleå provides chemical technology with a processing center in charge of separating the rare earths from the rest using hydrometallurgical technology.
The schedule until it is operational. Although the normal thing would be to have to wait almost 20 years, we have already seen that the EU has stepped on the accelerator. Tunnels are currently being built to connect the current Kiruna iron mine with the new deposit.
In 2026, Malmberget plans to have permits to open a new plant to treat apatite, and the Luleå plant is expected to be operational by the end of this year. However, for the large-scale commercial plant to be commercialized, estimates point to the 2030s due to the series of permits and environmental evaluations that must be successfully passed.
It won’t be easy. Despite the importance of rare earths in the EU plans and the apparent profitability of the process, the megaproject faces several challenges beyond the technical and the inherent waste generated. Without going any further, the city of Kiruna itself is sinking and its citizens have to move, literally, building by building, to allow mining expansion, as picks up CNBC. Furthermore, there is conflict with the indigenous Sami peoplesince the site is located on reindeer grazing routes.
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Cover | LKAB
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