Rare Earth is not just a record label as Spain has good reserves

Three rare earth minerals from China Credit: Brücke-Osteuropa CC

RARE EARTH is not just a record label as Spain has good reserves of the increasingly sought-after minerals.

As Spain looks to greatly increase its new technology knowledge and product, it will soon face a dilemma as it tries to balance business with environmental goals.

Many high-tech products ranging from wind turbines to electric vehicles, smart phones and even medical devices need to use one or more of the 17 rare earth minerals in their production.

Currently, China is the main supplier of these minerals to the world, but it would make a great deal of sense if Spain was to mine its own minerals and this is in theory perfectly possible.

According to the president of the National Confederation of Mining and Metallurgy Companies, Spain comes second to Finland as the country with the largest deposits of rare earth minerals (the fifteen lanthanides on the periodic table plus scandium and yttrium) in Europe.

In theory, not only could it supply its home market but could also export to other countries who are currently purchasing from China which would be an added boost to the Spanish economy.

The first application to obtain a mining licence in Ciudad Real in Castile–La Mancha Province has been blocked by the regional authorities on environmental grounds and now other potential miners are awaiting the decision to an appeal.

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Written by

John Smith

Married to Ophelia in Gibraltar in 1978, John has spent much of his life travelling on security print and minting business and visited every continent except Antarctica. Having retired several years ago, the couple moved to their house in Estepona and John became a regular news writer for the EWN Media Group taking particular interest in Finance, Gibraltar and Costa del Sol Social Scene. Share your story with us by emailing [email protected], by calling +34 951 38 61 61 or by messaging our Facebook page www.facebook.com/EuroWeeklyNews

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