Alf Reistad (NO)

Rare Earths Norway (REN) holds the extraction rights to Europe’s largest documented deposit of rare earth elements (REE)—materials ranked by the EU as the most critical raw minerals for European industry in terms of supply security. Currently, there is no REE extraction taking place within Europe.

The company aims to serve as an enabler for a complete and compact European value chain for permanent magnets. These magnets are the most powerful in the world and are strategically important for the green energy transition, including electric vehicles.

The Norwegian government has set ambitious targets to develop the world’s most sustainable mineral industry. REN is aligned with these ambitions and has developed a new mining concept, the Invisible Mine—an electrified and autonomous underground operation with backfilling of surplus materials.