Large phosphate ore deposit discovered in Norway

Via Marginal Revolution, this good news: 

A massive underground deposit of high-grade phosphate rock in Norway, pitched as the world’s largest, is big enough to satisfy world demand for fertilisers, solar panels and electric car batteries over the next 100 years, according to the company exploiting the resource.

Phosphate rock is an essential element used in the production of phosphorous for the fertiliser industry and was included in the European Commission’s March proposal for a Critical Raw Materials Act.

The Norwegian deposit is estimated to be worth 70 billion tonnes at least, which is just under the 71 billion tonnes of proven world reserves as evaluated by the US Geological Survey in 2021. 

By far the largest phosphate rock deposits in the world – around 50 billion tonnes – are situated in the Western Sahara region of Morocco. The next biggest are located in China (3.2 billion tonnes), Egypt (2.8 billion tonnes), and Algeria (2.2bn tonnes), according to US estimates.

“Now, when you find something of that magnitude in Europe, which is larger than all the other sources we know – it is significant,” said Michael Wurmser, founder of Norge Mining, the company behind the discovery.

In an emailed statement to EURACTIV, the European Commission welcomed confirmation of the massive Norwegian deposit of phosphate rock.

“The discovery is indeed great news, which would contribute to the objectives of the Commission’s proposal on the Critical Raw Material Act,” said a spokesperson for the EU executive.

Maybe we won't have to go to Saturn after all?