Minerals

Norway is sitting on large, untapped mineral deposits, according to investigations so far. We are focusing our efforts on three high worldwide demand resources: vanadium, phosphates and titanium.

Why Critical Raw Materials

Critical Raw Materials (CRMs) are economically and strategically important for the European economy, but have a high-risk associated with their supply. These materials are not only ‘critical’ for key industry sectors and future applications, but also for the sustainable functioning of the European economy.

EUROPEAN UNION: “CRMs combine a high economic importance to the EU with a high risk associated with their supply.”

Addressing the challenge

It’s only been in the last decade that the challenge of securing access to minerals needed for economic production has attracted rightful attention. They are needed for many everyday products and services and are pivotal ingredients for emerging innovations. And yet, their supply is not guaranteed – coming in large part from countries outside the European Union.

The COVID-19 pandemic has shone a light on the fragility of global supply chains and the need of a domestic production; securing neighbourly supplies will therefore gather pace in the near future.

The EU is “dependent on foreign imports for more than 80% of the raw materials needed for its industry and economy.”

Biggest suppliers of Critical Raw Materials to the EU

United Sates
Beryllium* 88%

Mexico
Fluorspar 25%

Brazil
Niobium 85%

Chile
Lithium 78%

Finland
Germanium 51%

Norway
Silicon metal 30%

France
Hafnium 84%
Indium 28%

Spain
Strontium 100%

Morocco
Phosphate rock 24%

Guinea
Bauxite 64%

DRC
Cobalt 68%
Tantalum 36%

South Africa
Iridium* 92%
Platinum* 71%
Rhodium* 80%
Ruthenium* 93%

Germany
Gallium 35%

Turkey
Antimony 62%
Borates 98%

Kazakhstan
Phosphorus 71%

Russia
Palladium 40%

China
Baryte 38%
Bismuth 49%
Magnesium 93%
Natural graphite 47%
Scandium* 66%
Titanium* 45%
Tungsten* 69%
Vanadium* 39%
LREEs 99%
HREEs 98%

Indonesia
Natural rubber 31%

Australia
Coking Coal 24%

* share of global production

Phosphate,
Vanadium and
Titanium supply

 

Norge Mining is exploring and sourcing three EU Critical Raw Materials: vanadium, phosphorus and titanium – all on the European Union’s 2020 list. The EU’s latest figures reveal that China produces 55% of the world’s vanadium and 45% of titanium, while 71% of phosphorus is sourced from Kazakhstan.

As Critical Raw Materials, vanadium and phosphates are, therefore, not only of national importance to Norway, but of international significance and could become key players in trade leverage. Securing European supply of these Critical Raw Materials and lowering the risk associated with it is considered of vital political and economic importance.

LEARN MORE

 

 

 

More about our minerals and their uses

  • Phosphates
  • Vanadium
  • Titanium
  • Gold

KEY POINTS

  • CRITICAL RAW MATERIAL (EU: 2020)
  • KEY INGREDIENT FOR GLOBAL FOOD SECURITY
  • BOOSTS CROP YIELDS
  • MARKET PREDICTED TO REACH $207 BILLION BY 2026
  • ASIA IS LARGEST MARKET; EMERGING ECONOMIES SHOWING INTEREST

Phosphates

Phosphate fertilisers could provide the natural answer to global food security.

Crop yield boost

The use of phosphate fertilisers in the past 50 years has boosted crop yields and helped feed millions, if not billions, of people. Fertilisers are typically comprised of three major water-soluble macronutrients such as phosphate, potash and nitrogen.

Burgeoning market

t’s predicted the global phosphate fertiliser market will reach $207 billion by 2026 (Global Market Insights), registering a 5.1% CAGR therein. The world’s increasing population (and, therefore, increasing meat consumption), limited availability of land and drive for food diversity have been key drivers of demand. Asia is currently the largest market, due to large farming communities in China and India. Awareness programmes in emerging economies in Latin America, Africa and Asia-Pacific are encouraging greater use in these areas.

Security and sustainability

The European Union once again named phosphorus as a ‘Critical Raw Material’ in 2020. Its security is emerging as a vital global sustainability challenge. Supply strategies to ensure farmers have sufficient access to phosphates to feed the world in a way that’s kind to the environment are therefore becoming increasingly urgent.

KEY POINTS

  • CRITICAL RAW MATERIAL (EU: 2020)
  • CHINESE REBAR REGULATIONS
  • STRENGTHENS CONSTRUCTION STEEL
  • RENEWABLE POWER STORAGE
  • CONTRIBUTOR TO CIRCULAR ECONOMY

Vanadium

Excitement about this lesser-known metal is gathering pace, as is demand…

Manufacturing value

A by-product of iron-ore, vanadium is becoming hugely valuable in manufacturing due to its malleable, ductile and corrosion-resistant qualities. When coated with nitrated ferrovanadium, the abrasion resistance of steel increases by 30-50%. It’s often used in making tough tools and car parts, among many other products.

Critical European supply

The European Commission has listed vanadium as a ‘Critical Raw Material’ once again in 2020 for key industry sectors and the sustainable functioning of the European economy. As steel production accounts for the vast majority of vanadium consumption (and with China increasing its enforcement of new high-strength rebar standards), the need for vanadium in construction is still high. With vanadium demand continuing to grow, Norway is perfectly poised to become a supply powerhouse in the future.

Renewable energy potential

The most exciting use of vanadium, lies in its game-changing potential in efficient power storage for renewable energy, such as hydro, wind and solar. Vanadium-based ‘redox flow’ batteries have a long life cycle (decades) as they can be re-charged thousands of times – and retain their value. As research into how to diminish their size develops, they may have a pivotal role to play in our electric vehicle revolution as a replacement for less efficient and highly contaminative lithium-ion batteries.

KEY POINTS

  • CRITICAL RAW MATERIAL (EU: 2020)
  • MARKET GROWING DEMAND
    AVIATION, AEROSPACE & AUTOMOTIVE
  • ‘WHITING’ AGENT
  • STRONG, LIGHTWEIGHT & WITHSTANDS EXTREME TEMPERATURES

Titanium

The market for titanium is going from strength to strength.

Propelled to EU critical

In 2020, the European Union added titanium to its Critical Raw Material list for the first time. With China producing 55% of the world’s titanium, the COVID-19 pandemic has demonstrated global supply chain fragility – and the pressing need to look for domestic, neighbourly producers to minimise risk.

Mighty metal

With an extraordinarily high melting point, titanium can handle extreme temperature conditions, ranging from sub-zero to 600˚C. It also has staggering strength and yet is relatively lightweight; it’s approximately half as heavy as steel. Add into the mix its corrosion resistance and it’s become a vital component in aerospace, aviation and automotive manufacturing.

Highly useful pigment

Ilmenite is the primary ore of titanium and is used to manufacture titanium dioxide – Ti0₂. Its most important use is as a whiting. Whitings are highly reflective materials that are ground to a powder and used as pigments.

KEY POINTS

  • Q2 2019: CENTRAL BANKS BOUGHT 224.4T OF GOLD
  • 1968-2016 APPROXIMATION: $588BN TOTAL INVESTMENT IN BARS & OFFICIAL COINS
  • STRONG RECOVERY IN INDIA’S JEWELLERY MARKET
  • RUST & TARNISH RESISTANT
  • NORWAY: POTENTIAL FOR HIGH GRADE GOLD MINERALISATION

Gold

A precious metal with emotional, cultural and financial value.

Malleable, ductile & resistant

The word “gold” comes from the Old English word “geolu” meaning yellow. Gold is the most malleable and ductile pure metal known to man. It’s also a great conductor of electricity. It’s alleged that approximately 80% of the Earth’s gold is still buried underground.

Diverse consumption

People across the world buy gold for different reasons, often influenced by a range of national socio-cultural factors, market conditions and wider macro-economic drivers. Global consumption of new gold produced is in jewellery, investments and industry.

Precious production

China was the largest gold producer in the world in 2016, accounting for an annual total of around 14%, but no one region dominates. Norway has deposits of high-grade gold assets in the south of the country – where is was first discovered in 1862. Historical mining and recent sampling in the licence area shows that there is potential for high grade gold mineralisation.