Phosphate rock pebbles - Scott Audette / REUTERS
Norge Mining, a mining company based in the UK, recently discovered 70 billion metric tons of mineralized rock in southwestern Norway, which according to the company's founder, could supply global demand for fertilizer and EV's for 50 years.
"Down to 400 meters, we established two world-class resources, which together allow a supply of raw materials for at least 50 years," Norge Mining's founder and deputy CEO Michael Wurmser told EURACTIV.
The discovery was made back in 2021 and included large deposits of phosphate, titanium, and vanadium located 2.7 miles below the earth's surface. According to studies at Columbia University, 90% of the world’s mined phosphate is used for fertilizer in the agriculture industry. While the agriculture industry will likely use the majority of the mineral, Norge Mining says that the mineral will also be used in the production of solar panels and lithium-iron-phosphate batteries for electric cars. as well as semiconductors and computer chips.
“Our latest geological modelling shows the extent of potential mineralised rock at the Bjerkreim project. Whilst it would not be feasible to mine the full extent of this mineralisation, the estimate of a deposit of more than 70 billion tonnes underlines the high quality of the Bjerkreim project, the global significance of Norway’s untapped mineral resources and the key role that Norway could play in the supply of EU Critical Raw Materials" said John Vergopoulos, CEO of Norge Mining.
About Norge Mining
Norge Mining plc is a UK-based natural resources company focused on mineral exploration in Norway. The Company owns 46 exploration licenses, totaling more than 400 square kilometers in southwest Norway in an area known to contain vanadium, titanium, phosphate, and gold. Norge Mining is currently conducting a program of exploration work to produce a resource estimate, building on earlier studies by the Norway Geological Survey (NGU). Norge Mining’s ambition is to become a substantial, sustainable, and strategically important exploration and mining business focused on Norway. The Company was founded in November 2018, is headquartered in the UK, and has a 100%-owned Norwegian subsidiary, Norge Mineraler AS.
For further information, please visit www.norgemining.com
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