Norwegian rare earth company reports: Valuation of Europe's largest mine increased by 81%.

The Norwegian Rare Earth Company announced that the value of the European's largest rare earth mining project they are developing has increased by 81% compared to the evaluation two years ago. The Fen Rare Earth Project being developed in southern Norway by the company will help reduce Europe's dependence on China, which is the dominant producer of rare earths. According to a statement from WSP, the project contains a total of 15.9 million tons of rare earth oxide in indicated and inferred resources. The statement also said that the new valuation is based on additional exploration drilling conducted last year, which has increased compared to the 8.8 million tons calculated for 2024.