The Swedish mining company LKAB, which is owned by the government, said it had found the largest deposit of rare earth metals in Europe in northern Sweden. Jan Mostrom, the CEO of LKAB, is sure that this discovery could have big effects on the EU's move to clean energy. He said in a statement, "This is the largest known deposit of rare earth elements in our part of the world, and it could be an important building block for making the critical raw materials that are absolutely necessary for the green transition." Jan Mostrom says that the company is ready to put a lot of money into exploring the site. Still, this could take a few years. The 17 elements that make up rare earth minerals are important to many high-tech industries, like making electric cars. As of now, China is the only country that mines rare earths. Europe does not mine for these minerals right now, but demand is expected to rise in the coming years. The European Commission says that by 2030, the EU's need for rare earth materials will have grown by a factor of five. Sweden's Minister for Energy, Business, and Industry, Ebba Busch, thinks that finding and exploring new mines will be a turning point for Europe's electrification, independence from Russia and China, and self-sufficiency.