A handy resource detailing why our resources are important and where they’re used
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.
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.
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.
Norge Mining is exploring and sourcing two Critical Raw Materials: vanadium and phosphorus. At the moment, Russia accounts for the majority of the EU’s supply of vanadium (60%), while Kazakhstan is providing the largest share of phosphorus (77%).
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.
Excitement about this lesser-known metal is gathering pace, as is demand…
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.
The European Commission listed it as a ‘Critical Raw Material’ (2017) for key industry sectors and the “sustainable functioning of the European economy”. What’s more, new Chinese rebar (reinforcing bar) regulations to make buildings more earthquake resistant have increased the need for vanadium. With vanadium demand set to soar, Norway is perfectly poised to become a powerhouse of European supply.
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.
Phosphate fertilisers could provide the natural answer to global food security.
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.
It’s predicted the global phosphate fertiliser market will reach $78.06 billion by 2025 (Grand View Research), 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.
The European Union named phosphorus as a “Critical Raw Material” in 2017. Its security is emerging as a vital global sustainability challenge. Supply strategies to ensure farmers have sufficient access to phosphorus to feed the world are therefore growing in significance at a rapid rate.
The market for titanium dioxide is going from strength to strength.
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.
One of the major advantages of titanium dioxide is its resistance to discolouration under UV light. It is used in products such as: paints and coatings, plastics, paper, inks, fibres, foods, pharmaceuticals and cosmetics.
Ti0₂ is also increasingly needed to coat lightweight materials, meaning a greater demand for it in the automotive industry. What’s more, titanium dioxide can also be used in water desalination processes. Given its status as an important ingredient in many products, it’s anticipated to stimulate market demand.
A precious metal with emotional, cultural and financial value.
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.
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.
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.
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The Annexe, The Gables, Potters Green, Ware,
Herfordshire, SGI2 0JU United Kingdom
Company Registration Number: 11703765
T +44 20 3290 6634
TEØK AS, Holtet 45, 1368 Stabekk, Kingdom of Norway
T +47 952 55 835