The raw materials group Norge Mining wants to mine phosphate on a large scale.
(Photo: Norge Mining)
Zurich The European Raw Materials Alliance (Erma), an initiative co-financed by the EU to secure strategic raw materials, wants to provide financial support for the construction of a phosphate mine in Norway. This was announced by Erma and the company Norge Mining in a joint statement on Tuesday.
The EU has promised billions in funding to speed up the construction of the mine, said the founder of Norge Mining, Michael Wurmser, in an interview with the Handelsblatt. “Our deposit will make a significant contribution to guaranteeing the EU’s independence from China through long-term and plannable access to strategic raw materials,” stressed Wurmser.
Among other things, phosphate is used in fertilizer production. With the development of lithium iron phosphate (LFP) batteries, the raw material also plays a key role in the production of inexpensive batteries for electromobility. The EU has therefore included phosphate in the list of critical raw materials. Securing the supply of these raw materials is of strategic importance for the EU.
Norge Mining suspects 70 billion tons of phosphate in the ore deposit. This value has been substantiated by numerous test drillings, explains Norge Mining founder Wurmser. If the estimate is correct, it would be the world’s largest known phosphate deposit. The largest producers of the raw material in 2020 were China, Morocco and – by a long way – the USA and Russia.
In addition to phosphate, Norge Mining has also identified significant amounts of vanadium and titanium in the area. These two raw materials are also on the EU’s list of critical raw materials. Among other things, the metal vanadium can be used for battery storage on an industrial scale, for example to store excess energy from wind and solar power. Titanium, in turn, is needed to strengthen steel, including in aircraft construction and in the defense industry.
Long way to the finished mine
Erma Director Bernd Schäfer confirms: “Raw materials have an enormous impact on our energy and economic security and are crucial for securing our strategic autonomy.” The recent geopolitical crises and the disruption of global supply chains showed that Europe must strengthen its own production.
Norge Mining has carried out many such test drillings in Norway to determine the size of the phosphate deposit.
(Photo: Norge Mining)
However, there is still a long way to go before phosphate, vanadium and titanium are actually mined on a large scale in Norway. Norge Mining founder Wurmser estimates the necessary investments at at least two billion euros. The mine is expected to be operational in around five years.
However, EU funds are only likely to flow once Norge Mining has demonstrated in a so-called bankable feasibility study that the project is worthwhile. Wurmser explained that the government funding should enable not only the construction of the mine but also the further processing of the raw materials within the EU area. “Collaboration between public and private entities is crucial in developing sustainable mining infrastructure in Europe.”
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