HomeMarket NewsMiningFinland Discovers Rare Earth Minerals at the Sokli Deposit

Finland Discovers Rare Earth Minerals at the Sokli Deposit

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Finland’s Sokli deposit has yielded a significant discovery of rare earth minerals, according to project geologist Teo Lehto. The finding provides valuable information for future geological surveys, modeling, and testing of ore processing, ultimately aiding in mineral resource estimation and mine planning.

The identification of these new minerals was made possible through the analysis of drill core sections collected from Sokli. This discovery solidifies Finland’s position as a prominent mining and processing hub for battery metals.

Sokli is renowned as the largest carbonatite deposit worldwide and has the potential to annually produce at least 10% of the rare earth elements (REE) required in Europe for the production of permanent magnets.

Project director Pasi Heino emphasized the significance of these findings, stating, “Achieving the expected results from our comprehensive, long-term study is a great accomplishment. It brings us closer to our goal of exploiting this unique mineral deposit, which is crucial to ensuring Europe’s self-sufficiency in raw materials. The growing business opportunities associated with REE in the Western world, particularly in the production of magnets, contribute to the advancement of renewable energy use and the electrification of transportation.”

The winter and 2024 will witness the continuation of mineralogical characterization and the testing of ore processing at Sokli.

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