Norwegian company ‘Norge Mining‘ has found a 70 billion tons phosphate rock deposit, big enough to satisfy the world demand for fertilisers, solar panels and electric car batteries over the next 50 years. Today, the world’s supply chains of phosphorus rely mainly on unstable countries: the estimated 70 billion tonnes underground deposit is just under the 71 billion tonnes of proven world reserves, as evaluated in 2021. Large (albeit undisclosed) amounts of titanium and vanadium, vital in the defense and aerospace industries and therefore classified by the EU as critical raw materials, are also present in the deposit.
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