A massive phosphate rock deposit that was discovered in Norway contains sufficient minerals to meet the global demand for solar panels and batteries for the next 100 years, according to the mining company that controls it. According to Norge Mining, deposits of titanium and vanadium, as well as up to 70 billion tonnes of the non-renewable resource, may have been discovered in south-western Norway, reported news agency The Independent.
Phosphate rock has a lot of phosphorus in high concentrations, which is important for building green technologies but currently faces significant supply issues.
What is Phosphate?
In 1669, German scientist Hennig Brandt, who was looking for the philosopher's stone, made the first discovery of phosphorus. It has become an essential component in lithium-iron phosphate batteries used in electric cars, solar panels, and computer chips, despite its inability to transform ordinary metals into gold.
The European Union has expressed concern about Russia's control of the largest ultra-pure phosphate rock deposits in the world, citing the high supply risk for these "critical raw materials."
According to a report from The Hague Centre for Strategic Studies, the EU is currently almost entirely dependent on imports of phosphate rock from the rest of the world. China, Iraq, and Syria also have significant deposits.
Prior to the massive Norwegian deposit's discovery, the report warned that the EU should be "concerned about phosphate rock shortages."
Phosphorus supply disruptions were predicted in an article published in the journal Nature last year, citing Russia's invasion of Ukraine and subsequent economic sanctions as a potential cause of market volatility.
Scientists warned earlier this year that the planet could face a "phosphogeddon" if supply trends continue. The global economy consumes an estimated 50 million tonnes of phosphorus annually.
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