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The Journal.

Why an Arctic Treasure Is Spurring Hope and Dread

The Journal.

The Wall Street Journal

News, Daily News, Business News

4.25.8K Ratings

🗓️ 30 January 2023

⏱️ 19 minutes

🧾️ Download transcript

Summary

North of the Arctic Circle, a Swedish mining company says it has located a coveted resource: Europe’s biggest cache of rare-earth minerals, elements used for making electronics and green technology. The deposit could be a blessing for the West, but WSJ’s Kim Mackrael explains that for Sweden’s indigenous Sami people, it also puts hundreds of years of tradition in peril. Further Reading: - Rare-Earth Find in Sweden Lifts Hope for Shift Toward Clean Energy Further Listening: - Diving Deep for Battery Metals Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0

A couple weeks ago, Sweden's state-owned mining company, LKAB, made a big announcement.

0:12.9

A Swedish mining company says it's found Europe's largest-to-positive rare earth elements.

0:17.0

Rare earths?

0:18.0

Something called rare earths.

0:19.5

Rare earths are used in a wide range of products, including iPhones.

0:22.8

The valuable metals are also key and renewable technology, like wind turbines and electric

0:28.0

cars.

0:30.1

The deposit is a source of hope for the West, because the minerals could help speed up Europe's

0:34.4

path to clean energy.

0:37.0

The rare earth deposit is buried in Sweden's northernmost town, Karuna.

0:42.2

Our colleague Kim McGrail traveled to this town in the Arctic Circle to check it out.

0:47.0

It's about 5.40.

0:53.2

The pitch black here has been very dark for several hours, actually, because the sun

0:58.9

here only is up for a couple of hours.

1:02.1

When I walk, I can hear this snow sort of squeaking beneath my boots.

1:09.6

It's the ground everywhere here.

1:13.1

It's covered in snow.

1:15.6

Karuna may be home to perhaps the largest rare earth mineral deposit in Europe, but mining

1:21.1

that deposit is facing a challenge.

1:24.1

So there's a group of people that are very unhappy about this.

1:28.1

Sweden's saw me people.

1:30.9

They're indigenous people in northern Sweden.

...

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