CommoditiesMedium•3 November 2026•
1 min read
Rare Earths Norway Approves €24M Investment for Fen Pilot Processing Plant
Key Facts
1Rare Earths Norway has approved a €24 million investment for a pilot plant at the Fen project.
2The investment aligns with EU efforts to reduce dependence on Chinese rare earths and magnets.
Rare Earths Norway has approved a €24 million investment to construct a pilot processing plant at the Fen project. According to mining.com, the facility is designed to test the processing of material from the site to establish a domestic supply chain for permanent-magnet ingredients, with operations scheduled to begin in the third quarter of 2027.
The investment aligns with European Union efforts to reduce strategic dependence on Chinese rare earths and magnets used in green technology. The project, located in Ulefoss, aims to commence commercial extraction in the early 2030s to mitigate supply chain risks and bolster European mineral security.