Rare Earths Norway Commits €24 Million to Fen Pilot as Europe's Largest Rare Earth Deposit Faces Its Industrial Test

Highlights

• Rare Earths Norway has approved a €24 million pilot plant in Ulefoss, Norway, scheduled for Q3 2027 to process ore from the Fen Complex into rare earth oxides.
• Fen holds an estimated 15.9 million tonnes of rare earth oxides, but only 1.7 million tonnes are Indicated—the rest remain Inferred and unproven economically.
• Public funding covers roughly 30% of the pilot budget via Innovation Norway and Telemark Development Fund; the remaining financing structure is undisclosed.
• Key commercial hurdles include proving NdPr recovery rates, managing thorium-bearing residues, securing downstream customer commitments, and obtaining zoning approval by 2028.