Enormous deposit of rare earth elements discovered in heart of ancient Norwegian volcano

The heart of an ancient volcano in Norway hosts Europe's largest deposit of rare earth elements, according to the mining company Rare Earths Norway.
On June 6, the company released a report on the deposit, which found that there is an estimated 8.8 megatons of rare earth oxides available in the outcrop. About 1.5 megatons of that is expected to be rare earth magnets, which are used in wind turbines and electric vehicles.
"[T]he resource estimate underscores the potential of the deposit to be a truly transformative asset that can underpin a secure rare earths value chain for Europe," Rare Earths Norway CEO Alf Reistad said in a statement.