What is a "Rare Earth" Element
Mines of rare metal elements and ''rare earth'' have been discovered in Sweden. There was an uproar across Europe. Used as an essential ingredient. China has long controlled the "rare earth" market for parts used to make missiles, satellites, mobiles, etc. Strategic Sweden will become stronger in search of Sweden now. The monopoly of China in the world market will decrease. A rare rare earth mine found in the northern region of Sweden is currently the largest rare earth mine in Europe. Experts believe that this mine contains more than 10 lakh tons of various precious metals. Stockholm claims that it will change the commercial context of not only Sweden but the whole world. The precious metal is essential to low-carbon technologies worldwide that demand this precious Earth. Rare earth elements are variously used in satellites, missiles, iPhones, car batteries, windmills, and even computer hard disk drives. In addition, this rare earth metal is a major component of all technologies, no matter how high-powered the missile defense system is. Its demand has increased several times in the last two decades. Now the largest rare earth mine in Europe, the mine came to attention a few years ago. It is not yet known how big the mine is. Scientists in Sweden are researching how to manage this resource. The trade in rare earth is highly politicized globally, as 80 percent of its total extraction and 95 percent of Europe's supply come from mines in China. And Beijing has reduced exports to maintain a monopoly in the world market. These valuable mineral resources will curb China's monopolistic dominance and reduce Europe's dependence on them. Scientists are doing extensive research on this mine, including the extent of the mine and the amount of metal. It will take more than 10 years for Sweden to export precious metals, including rare earth after mining begins. It is expected that within the next 10 to 15 years, Sweden will be able to create a strong position in the world market.
