Sweden on Thursday announced plans to try to boost its mining sector, particularly when it comes to rare earths, and counter European dependence on China.
Resource-rich Sweden is already home to Europe's largest iron ore mine, and has since found considerable rare earth deposits at the same Arctic Circle site in Kiruna.
Rare earth minerals are essential for renewable energy generation, defense and electric vehicle production, modern computer manufacturing and other core industries. China accounts for roughly 70% of global mining and refining.What did the Swedish government say about the plan?
The government in Stockholm on Thursday declared the mining of critical metals and rare earth minerals to be a national security interest.
This should ease and accelerate the permit process for new extraction projects and help attract investments, according to Energy Minister Ebba Busch, who is also deputy prime minister.
