The Economic Times

In June 2026, Spain revealed a rare-earth deposit capable of meeting 33% of Europes needs. Now, the find could challenge Chinas grip on critical minerals and strengthen continents push for mineral independence

A rare-earth deposit identified in Campo de Montiel, central Spain, could become an important source of materials for Europes electric vehicles, wind turbines, electronics and other technologies. Quantum Minera estimates the resource could produce around 2,300 U.S. tons of rare-earth materials annually, potentially covering up to one-third of European needs. The discovery comes as the EU seeks greater control over critical mineral supply chains and faces heavy dependence on China for rare-earth processing.