Massive mineral deposit discovery could meet global battery and solar panel demand ‘for next 100 years’
Fantastic news as a huge phosphate rock deposit discovered in Norway is estimated to contain enough minerals to meet the global demand for batteries and solar panels for the next 100 years, according to the mining company that controls it.
Norge Mining said up to 70 billion tonnes of the non-renewable resource may have been uncovered in south-western Norway, alongside deposits of other strategic minerals like titanium and vanadium.
Phosphate rock contains high concentrates of phosphorus, which is a key component for building green technologies but currently faces significant supply issues.
The global economy consumes an estimated 50 million tonnes of phosphorus each year, with scientists warning earlier this year that the planet could face a “phosphogeddon” if supply trends continue.