The mining company Rare Earth Norway (REN) revealed last month that the presence of rare earth metals in the Fensfeltet deposit (located in southern Norway) was 80% greater than calculated two years ago, exceeding 15.9 million tons. From the mining town of Ulefoss, REN director Alf Reistad, who holds the exploitation rights, explained that he had many reasons to be happy: “This makes the deposit one of the largest rare earth deposits in the world. It could be of great strategic importance for Europe,” he said.Rare earths are composed of 17 metallic elements that are not particularly rare in reality, but are used for the manufacturing of electric cars, wind turbines, microchips, and in the production of weaponry, among many other things. Their demand is projected to increase exponentially in the coming decades, which is why the European Union has set the goal of covering at least 10% of internal demand by the year 2030. But in practice, this horizon seems unlikely, as today the extraction and processing of rare earths by European countries is zero.In this regard, the challenge for Europe is to stop depending on China, which until now supplies 98% of these precious minerals, a relationship that is considered strategically dangerous for the interests of the Old Continent's industry. This situation has led to Norway's deposit being classified “as of strategic importance” by the European Commission. However, despite the discovery, which has been dubbed “the new oil”, the Fensfeltet mine could end up never being exploited.Reducing dependence on China

In a phone call with ARA, Reistad now admits he is impatient: “It is time to stop talking so much and act to get the rare earth extraction up and running,” he says. According to the mining company REN, the deposit in Norway could significantly help reduce dependence on China, as it “could supply 30% of the EU's need for rare earths,” Reistad explained. The company's hope was that the mine could start operating from the year 2030, but fear of the financial risk of carrying out the exploitation and environmental objections are getting in the way: “Unless the Norwegian authorities, the European Commission, and the EU member states mobilize, these resources, which are considered critical raw materials by Brussels, may never be extracted,” Reistad warned.At the Fensfeltet deposit, the minerals are buried 500 meters under a volcano that has been dormant for 580 million years. REN's plan is to build an underground mine and transport the extracted ore through a tunnel to a nearby area, where it will be separated and processed, while the remaining earth will be returned to the mine to prevent the ground from sinking.However, it has been difficult for the company to find a site for a waste disposal facility so far. The old volcano area is rich in wildlife and is home to 78 protected species of beetles, butterflies, and lichens. In early April, the Norwegian government announced that it was taking responsibility for planning the mine's construction and assessing its impact, but environmental reports have indicated that the operation would severely damage vegetation and animals.The mining company REN admits that there is a dilemma, as, according to Alf Reistad, “it must be considered whether it is a priority to allow the destruction of natural space in order to extract the rare earth metals that Europe needs so much.” Reistad justified the development of the deposit by the fact that “after all, rare earth metals will be used to manufacture electric cars and wind turbines that reduce the impact of gas emissions on the climate,” he said.Beyond the environmental issue, there is also a significant economic challenge. To maintain its monopoly position on rare earths, China provides financial support to its industry and can reduce mineral prices when it suits it to drive out competition, a practice known as dumping, according to Reistad.On the other hand, the President of the United States, Donald Trump, recently authorized an investment of 1.74 billion euros for two American companies involved in the extraction and processing of rare earths, a very significant public investment aimed at reducing their dependence on Chinese control.For the Norwegian deposit to be profitable, Alf Reistad warns that the European Union should provide financial support to ensure fixed minimum prices for the company responsible for the operation, in order to circumvent competition from China and the US. Reistad also advocated for the creation of a Norwegian public company to participate as a co-owner of the project, a proposal that the Oslo government has viewed favorably, although it has not yet made any decision on the matter: “For us, it is about the state participating by assuming part of the financial risk involved in a project that is not governed by normal market rules because the competitor is China,” Reistad stated.In conclusion, Reistad emphasizes that time is also a decisive factor in facing competition and, therefore, the project must be initiated without further delay. Despite everything, he admits with resignation: "In Europe, the average time to launch a project of this type is about 20 years from the discovery of the minerals."

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At Saturday's press conference, President Trump was quick to assert that the profits from the oil market would be sufficient to offset the cost of a military intervention in Venezuela and that American companies would clearly benefit. However, despite the rhetoric—and the seizure of ships carrying crude oil—a closer look at the facts reveals significant inconsistencies in the president's argument. First, the oil companies themselves quickly expressed their doubts. Modernizing facilities severely deteriorated by extracting heavy, dense, high-sulfur crude requires substantial investment. Such operations are only profitable if accompanied by strong guarantees of political and legal stability—conditions that are currently lacking. Furthermore, Venezuelan crude is not considered a critical or essential asset for the global energy supply. The United States has sufficient domestic production and guaranteed access to both Canadian and Arabian Peninsula oil. In fact, the collective intelligence of financial markets seems to have reached a similar conclusion: in the last week, oil prices have remained virtually stable, without significant upward or downward pressure.

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Nothing less than expected. After nearly three days of talks, the United States and China have agreed to cut tariffs. The agreement, still pending approval by the American and Chinese presidents, was announced by Trump himself, who provided the first details: the United States will apply 55% tariffs on Chinese products; Beijing, for its part, will apply 10% on American products.

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We want a world without emissions, but to get there we depend on minerals and other elements to make solar panels, wind turbines, and electric vehicles. And this is where the paradox of the energy transition arises: while we seek to reduce dependence on fossil fuels to combat climate change, concentrating and extracting them can lead to environmental and social impacts, such as emissions, deforestation, and water pollution. Added to this is growing geopolitical tension over the control of these resources. Is it more sustainable? Science is looking for answers.

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From toothpaste to euro bills and mobile phones, most of the things we use every day are made from elements that come from underground. Furthermore, in recent years, the use of minerals has increased exponentially due to the energy transition and our increasingly technological society. Some of these materials are considered strategic and critical, with high added value and crucial for industry. And within this group are rare earths.

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Ukraine's rare earths could be the key to unlocking a future peace agreement, following the agreement signed this week by the Donald Trump administration and Volodymyr Zelensky's administration. The United States' hunger for these metals and other critical minerals, such as lithium, cobalt, nickel, and tantalum, is at the heart of its involvement in the war in Ukraine, but also the reason why Donald Trump is threatening to annex Greenland and Canada. But the United States is not the only power immersed in the rush for critical minerals. The European Union has also defined as a strategic priority "achieving a secure and sustainable supply chain" for 34 critical raw materials, which include these and other minerals. essential for green technology and digital, but also, and now more than ever, for the growing military industry.

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The 17 chemical elements known as rare earths possess magnetic, optical, and electrical properties that make them crucial for fiber optics, displays, and electronic devices in general. They are used to make radars and sensors, rechargeable batteries, satellites, drones, computers, mobile phones, speakers, telescopes, and even medical devices. In an increasingly technological society trying to shift from fossil fuels to renewable energy, these materials are becoming increasingly necessary. Seemingly simple components such as the magnets in hard drives, speakers, and most electric motors are made with these rare earths.

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This Sunday's dossier is dedicated to rare earths. We've talked a lot about this these past few days, because the United States and Ukraine have finally signed an agreement to exploit them. These critical materials are now the new oil, and the global race to control them has begun. Let's review the conflicts around the world caused precisely by these materials, from Africa to Greenland. We'll also explain exactly what materials we're talking about from a geological perspective and what they're used for.

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Windmills for wind energy production, electric car batteries, or compact electronic devices like GPS devices. These are examples of technologies that require a critical mineral to function. Although these raw materials have been highly valued for years, the spotlight has recently returned to them.

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