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Norge Mining has discovered a phosphate mine in Norway with an estimated 77 billion tons of reserves, sufficient to meet global phosphate demand for the next 50 years. The mine, located at a depth of approximately 400 meters, was initially identified in 2018, but its full scale was announced in May 2025.

Phosphate is essential for producing phosphoric acid, a key component in lithium iron phosphate (LFP) batteries, which are increasingly used in electric vehicles (EVs) and solar energy systems. According to the International Energy Agency (IEA), LFP batteries may account for up to 90% of the battery market in commercial vehicles by 2040.

This discovery is strategically significant as it aims to diversify phosphate supply, reducing dependence on geopolitically sensitive regions. Analysts suggest it could lower battery production costs and, in turn, reduce prices for EVs and renewable energy devices.