Europe
Critical raw materials
Europe's race to mine its own rare earths, explained
Europe wants to break China's grip on rare earths, the magnet metals behind EVs, wind turbines and missiles. A March 2026 upgrade made Norway's Fen complex the continent's largest deposit at 15.9 million tonnes of oxides; Sweden's LKAB is chasing rare earths as an iron-ore by-product. But mining is not refining, and China still does most of both. Here is what the projects can realistically deliver, and what to watch.