The rare earth elements found at Kvanefjeld are critical to the development of sustainable technologies

The rare earth elements found at Kvanefjeld are critical to the development of sustainable technologies. Neodymium and praseodymium are essen- tial for the production of high−strength magnets used in electric motors, generators, and other renewable energy systems. With the increasing demand for electric vehicles and renewable energy infrastructure, the global demand for these rare earths is expected to rise significantly in the coming years. The Kvanefjeld Project is strategically important, as it is located out- side of China, which currently dominates global rare earth production. As countries seek to diversify their supply chains and reduce dependence on China for these critical materials, Kvanefjeld offers an opportunity for reliable, sustainable, and ethically sourced rare earths.