Part 6/7:
Increased operational costs, compounded by the highest energy prices in the world, present significant challenges for European producers. Issues with infrastructure and securing water sources further complicate efforts to enhance local production capabilities.
Hopeful Prospects, But Long Timeframes
Recent discoveries, such as a substantial rare earth deposit in Sweden, provide a glimmer of hope. However, experts caution that it may take at least a decade before any viable mining operation can be initiated. This timeframe is coupled with additional years for refining and processing—where China currently maintains a monopoly.