The Nordic state has reportedly found vast amount of metals and minerals on its continental shelf
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A Norwegian research team has discovered large reserves of metals and minerals under the seabed of the country’s vast continental shelf, the Norwegian Petroleum Directorate (NPD) said in a statement on Friday.
The major discovery reportedly offers one of the world’s biggest oil and gas exporters the prospect of extracting “substantial” amounts of minerals, ranging from copper to rare earth metals.
“Of the metals found on the seabed in the study area, magnesium, niobium, cobalt and rare earth minerals are found on the European Commission’s list of critical minerals,” director of technology and analysis at NPD, Kjersti Dahle, said.
According to the preliminary estimates, polymetallic sulphides in remote areas of the Norwegian Sea and Greenland Sea contain 38 million tons of copper, nearly twice the volume mined globally each year, 45 million tons of zinc, 2,317 tons of gold and 85,000 tons of silver.