LKAB becomes largest owner in REEtec AS, builds a strong Nordic industry for rare earth elements
The Norwegian company REEtec AS has developed an innovative and sustainable technology for separation of rare earth elements that can compete with China's dominating production of these materials. Now the first factory is to be built in Herøya, Norway."LKAB plans to extract rare earth elements as a by-product from our iron ore mining. Together with REEtec, we will create the base for a strong and sustainable Nordic value chain for rare earth metals," says Jan Moström, LKAB's President and CEO.Demand for rare earth metals for use in electric vehicles and wind turbines is expected to