The Economic Times

Spain identified a rare-earth deposit that could supply one-third of Europe's needs: could this massive discovery reduce foreign reliance, or will environmental battles kill it?

Europe might sit on its own green energy goldmine. Deep in central Spain, a major rare-earth deposit was discovered. It holds enough critical monazite to supply one-third of Europes needs. That could finally cut reliance on China for EV magnets. But there is a big catch. Severe drought and local opposition have stalled the mine. Can Europe save its electric future? Here is what is really happening right now.