Hades licence win puts Germany on rare earth map
The Storkwitz project could boost Europe's push to secure domestic supplies of critical minerals and reduce import dependence.
German startup Hades has secured an exploration licence for the Storkwitz rare earth project in eastern Germany, marking the country as one of the few locations in Europe with a domestic rare earth deposit. The Saxon Mining Authority granted the licence on July 31, allowing Hades to explore a 28.4-sq.-km area near Delitzsch in northern Saxony.
The property is estimated to contain about 38,000 tonnes of rare earth oxides and 8,000 tonnes of niobium pentoxide, though Hades has yet to define a resource under internationally recognized reporting standards. Rare earth elements are crucial for various applications, including permanent magnets used in electric vehicles, wind turbines, defence systems, and electronics.
Europe's heavy reliance on imports, particularly from China, has made domestic projects increasingly significant as governments seek to diversify supply chains. Hades, founded last year, plans to use its proprietary Cerberus laser drilling technology and in-situ recovery techniques to minimize environmental impact and reduce costs.
The company has already raised €20 million in venture capital financing and aims to build a vertically integrated business in Europe's critical raw materials sector.
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