Norge Mining, a Norwegian mining company, reports a colossal phosphate rock discovery that could redefine supply chains for batteries and solar energy for decades. Phosphate plays a central role in global renewable energy efforts and is a cornerstone of modern agricultural fertilizers, helping to fuel both growth and resilience in energy systems.
The company released statements to local media claiming the new deposit could contain at least 70 billion tons of phosphate, a figure that would approach the total of known world deposits combined. Current counts place the next-largest reserves in Morocco, followed by China, Egypt, and Algeria, with tens of billions of tons recorded in each region.
Phosphate is currently traded at roughly 345 dollars per metric ton. If the deposit holds true to initial estimates, its value would be in the vicinity of 24 trillion dollars. Beyond potential profits, the find could significantly reduce Europe’s reliance on external suppliers for a vital mineral needed across energy, agriculture, and technology sectors.
Reduce dependency on the EU
European Union officials have acknowledged the discovery as a strategic development that aligns with the Critical Raw Materials Act, a framework aimed at lowering supply risks for essential materials. Given uncertainties in transatlantic and global relations among the United States, the EU, Russia, and China, ensuring a stable supply of phosphorus becomes a strategic priority.
Michael Wurmser, founder of Norge Mining, told EURACTIV that phosphorus production could play a crucial role in Western energy autonomy. The interview highlighted the mineral’s importance for energy security and industrial resilience.
The primary use of phosphorus is in fertilizers, absorbing about 90 percent of global production. It is also increasingly found in electronic products, including batteries, solar panels, and computer components. As nations push harder toward renewable energy targets, securing reliable access to key materials becomes a top priority for policymakers and industry alike.
The Norwegian deposit is described by experts as large enough to satisfy world demand for decades, potentially altering how the market structures supply and pricing over the long term.
The discovery in Norway traces back to 2018, when Norge Mining initially identified the bed and later confirmed its scale in collaboration with the Norwegian Geological Survey. New measurements indicate the deposit extends to a depth well beyond earlier estimates, reaching into several kilometers beneath the surface rather than a shallow layer.
In addition to its substantial phosphate content, the deposit contains other valuable minerals such as vanadium and titanium. These minerals are regarded as critical raw materials by the European Union and are utilized across aerospace, defense, and high-tech manufacturing sectors.
Reference article: citation provided by EURACTIV and related industry reports on the discovery and its potential impact on European energy strategy.
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The environment department notes the need for careful assessment and monitoring of the site to ensure responsible development, with ongoing discussions about environmental safeguards and community engagement.