HomeNewsWorldNorway’s phosphate mine find to re-write the Western narrative

Norway’s phosphate mine find to re-write the Western narrative

The phosphate deposit, being pitched as the world’s largest,is big enough to meet the rising global demand for fertilisers, solar panels, and electric-car for at least the next 100 years, says Norge Mining.

July 03, 2023 / 15:27 IST
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Norway's phosphate deposit is big enough to meet the global demand for the next 100 years.
Norway's phosphate deposit is big enough to meet the global demand for the next 100 years.

Norge Mining, an Anglo-Norwegian company, announced the discovery of massive deposits of ultra-rich phosphate rock, vanadium and titanium in south-west Norway this June.

The deposit is estimated to contain 70 billion metric tons of phosphate rock, according to EURACTIV, an independent media company specializing in EU policy. This is about the same as the proven global reserves of phosphate, which are estimated to be 71 billion metric tons, per the US Geological Survey report 2022.

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Phosphate, an essential element used for production in the fertiliser industry was part of the European Commission’s March proposal for a Critical Raw Materials Act.

Nearly 90 percent of mined phosphate rock is used for the production of phosphorous for the fertilizer industry, for which there is no substitute yet. Notably, the global food supply chain largely banks on the fertilizer industry, and is highly sensitive to price shocks, as seen in the initial days of the Russia-Ukraine geopolitical tensions.