{"id":78321,"date":"2023-07-06T01:00:21","date_gmt":"2023-07-06T01:00:21","guid":{"rendered":"https:\/\/enterpriseam.com\/climate\/2023\/07\/06\/norway-discovers-giant-phosphate-mine-amid-a-massive-drive-for-energy-transition-resources\/"},"modified":"2023-07-06T01:00:21","modified_gmt":"2023-07-06T01:00:21","slug":"norway-discovers-giant-phosphate-mine-amid-a-massive-drive-for-energy-transition-resources","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/climate\/2023\/07\/06\/norway-discovers-giant-phosphate-mine-amid-a-massive-drive-for-energy-transition-resources\/","title":{"rendered":"Norway discovers giant phosphate mine amid a massive drive for energy transition resources"},"content":{"rendered":"

<\/a> Norway discovers giant phosphate deposit:<\/strong> Norway\u2019s publicly traded mining company Norge Mining has discovered 70 mn tons of phosphate rock deposit which it says contains enough minerals to meet the global demand for batteries and solar panels for the next 100 years, The Independent<\/a> reports. Norway may fast-track extraction of a giant mine in Helleland once analysis is completed, slating an operational date by 2028. Phosphate rock is an essential component in lithium-iron phosphate batteries used in electric cars, as well as in the manufacturing of solar panels making them a crucial resource for the energy transition. The discovery is expected to ease concerns of a growing supply crunch and a high dependence on Russian imports.<\/p>\n

Our region is currently on the leaderboards for phosphate supply:<\/strong> Currently, the largest phosphate deposit is located in the western Sahara region of Morocco with a capacity of around 50 bn tons. This is followed by China with 3.2 bn tons, Egypt with 2.8 bn tons, and Algeria with 2.2 bn tonnes, Mining Technology<\/a> said, citing US Geological Survey estimates.<\/p>\n

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India is looking to export 10 mn tons of green hydrogen to the EU: <\/strong>India is in talks with the European Union to export some 10 mn tons of green hydrogen to the bloc in exchange for EU investments in its clean energy and carbon credit sectors, Reuters<\/a> reports, citing people with knowledge of ongoing negotiations. Earlier this week, India said<\/a> it would seek bilateral agreements aimed at bringing in foreign direct investments for green hydrogen projects in return for carbon credits generated from clean hydrogen ventures in the country.<\/p>\n

Italy-based renewables-focused investment firm <\/strong>NextEnergy Capital<\/a><\/strong> raised USD <\/strong>480 mn in its latest solar energy and BESS-centered investment fund<\/strong>, Reuters<\/a> reports. The company will use the funding to invest in its 14 GW pipeline of solar energy projects in Europe, North America, and Chile over 10 years. The company is in talks with other investors and may raise another funding round later in 2023 as part of its target to unlock USD 1.5 bn in climate financing.<\/p>\n

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-<\/strong><\/p>\n