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

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.

Thank you for reading ‘Rare Earth is not just a record label as Spain has good reserves’ and remember that all articles produced by Euro Weekly News may be accessed free of charge.