New Report on Norway. These Resources Attract Trump, Europe, and the Defense Industry
Norway has found itself at the center of the battle for critical resources. A new report shows that the country exports them for about NOK 100 billion annually. Among the most important points highlighted is Fensfeltet in Telemark, the largest known deposit of rare earth metals in Europe.
The deposits are identified as key by, among others, the US administration.
Gage Skidmore/Wikimedia na licencji CC 2.0
On Friday, June 19, Minister of Industry Cecilie Myrseth received the report "Critical and Strategic Resources in Norway – Positions and Potentials." This is the first major analysis of Norway's role in the supply chains sought after by Western countries. The document was prepared by Prosess21 and the Norwegian Research Council (Forskningsrådet) on behalf of the Ministry of Trade, Industry and Fisheries (NFD).
Norway Has Resources. This Is Exactly What the West Needs
The report is clear. Norwegian industry and the mineral sector already supply resources important for the economy, transformation, and the security of allies. Myrseth emphasized that this is about contributing to value creation and the resilience of Western states. The stakes are supply chains outside of China's control.
Critical resources are needed for the production of electric cars, wind turbines, chips, data centers, rockets, and modern military systems. Europe and the US have been trying for years to reduce dependence on China, which dominates the extraction and processing of rare earth metals, graphite, cobalt, and other resources. The report describes this shift as a move from trade to security policy. Resources have become an element of state rivalry.
Critical resources are needed for the production of electric cars, wind turbines, chips, data centers, rockets, and modern military systems. Europe and the US have been trying for years to reduce dependence on China, which dominates the extraction and processing of rare earth metals, graphite, cobalt, and other resources. The report describes this shift as a move from trade to security policy. Resources have become an element of state rivalry.
Not only oil and gas are identified as key resources.Photo: Øyvind Hagen, Equinor press materials
Fensfeltet Makes the List. Trump Eyes Minerals
Fensfeltet is located in Telemark. The deposit lies on an ancient volcanic structure from about 580 million years ago and contains the largest known concentration of rare earth metals in Europe. According to Dagbladet, Donald Trump's administration had previously identified this area as strategically important. The same resources are crucial for American plans to secure access to critical materials.
Trump linked his interest in Greenland to its mineral resources. This year, he also signed a mineral agreement with Ukraine. According to the NFD, Fensfeltet was proposed as a strategic project in the international MSP mineral cooperation, which was later replaced by FORGE. The aim of these actions is to ensure Western countries have access to critical resources.
Trump linked his interest in Greenland to its mineral resources. This year, he also signed a mineral agreement with Ukraine. According to the NFD, Fensfeltet was proposed as a strategic project in the international MSP mineral cooperation, which was later replaced by FORGE. The aim of these actions is to ensure Western countries have access to critical resources.
The report also shows that the greatest value is not created solely underground. The Norwegian processing industry exports critical resources worth nearly NOK 100 billion annually, while extraction itself accounts for about NOK 3.5 billion. The authors warn that development may be hindered by lengthy licensing processes, land disputes, lack of capital, and uncertain access to energy.
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