Rare Earths Norway
Rare Earths Norway AS is a pre-revenue Norwegian mining company developing Europe's largest documented rare earth elements deposit at the Fen Carbonatite Complex in Telemark, producing mixed rare earths concentrate for European permanent magnet, EV, wind energy, and defense supply chains.
- Company typePrivate
- Founded2016
- HeadquartersMolde, Norway
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Rare Earths Norway does
Rare Earths Norway AS (REN) is a Norwegian mining and mineral processing company founded in 2016 to develop the Fen Carbonatite Complex in Telemark, Norway. The company holds extraction permits covering approximately 90% of the REE-bearing iron-dolomite carbonatite (FDC) at Fen and, per a 2026 JORC-compliant resource estimate prepared by WSP, controls Europe's largest documented rare earth elements (REE) deposit at 15.9 million tonnes of total rare earth oxide (TREO) — an 80% increase from the 2024 estimate of 8.8 million tonnes — with neodymium and praseodymium (NdPr) content of approximately 19% of TREO, the REEs deemed most critical by the European Commission for permanent magnet production in EVs, wind turbines, and defense applications. REN operates the upstream stages of the mine-to-magnet value chain through underground mining (the 'invisible mine' concept), beneficiation via milling and flotation, and hydrometallurgical processing to produce mixed rare earths concentrate, with niobium and thorium identified as potential by-products.
REN is privately held, majority-owned by Hustadlitt AS (95%), a family-owned industrial group with more than 75 years of mineral industry experience, with Brennebu AS holding the remaining 5%. The company is pre-revenue and in the development/pre-production phase, targeting European industrial customers in the permanent magnet value chain — including European permanent magnet manufacturers, EV OEMs, wind turbine producers, and defense contractors — through a direct enterprise sales motion. REN was endorsed as a strategic priority project by the European Raw Materials Alliance (ERMA) in May 2022, received extraction permits from the Norwegian Directorate of Mining in September 2023, and participates in the EIT RawMaterials 'RareGreen' KAVA 9 consortium with NTNU, Chalmers University of Technology, and Carester to co-develop sustainable processing methods for REE concentrate, niobium, and thorium between 2022 and 2025.
Rare Earths Norway firmographics
Firmographics- Name
- Rare Earths Norway
- Legal name
- Rare Earths Norway AS
- Website
- https://rareearthsnorway.com
- Company type
- Private
- Founded year
- 2016
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Rare Earths Norway AS is a pre-revenue Norwegian mining company developing Europe's largest documented rare earth elements deposit at the Fen Carbonatite Complex in Telemark, producing mixed rare earths concentrate for European permanent magnet, EV, wind energy, and defense supply chains.
- Ownership category
- akta.pro rank
Rare Earths Norway industry classification
Industry- Product category
- Rare Earth Mining
- SIC
- Miscellaneous Metal Ores (1090), Primary Smelting & Refining Of Nonferrous Metals (3330)
- akta.pro primary industry
- Rare Earths Mining & Concentrates (REE Ores) (IMAKAFAG)
Keywords
Where Rare Earths Norway is headquartered
LocationHeadquarters
- HQ city
- Molde
- HQ country
- Norway
- HQ region
- Europe
Offices2 records
Markets served
Rare Earths Norway business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales
Revenue model
- Mixed Rare Earths Concentrate Sales: REN will produce and sell mixed rare earths concentrate from the Fen deposit. The concentrate will be processed by other industrial players for separation, metal production, and magnet manufacturing. Revenue will come from bulk sales of concentrate to European industrial customers in the permanent magnet value chain.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Rare Earths Norway product offering
Product offeringCore offering
Rare Earths Norway develops the Fen Carbonatite Complex in Telemark, Norway, performing underground mining of carbonatite ore, beneficiation (milling and flotation), and hydrometallurgical processing to produce a mixed rare earths concentrate. The concentrate is intended for European industrial customers in the permanent magnet value chain for use in electric vehicles, wind turbines, and defense applications. The company also extracts niobium and thorium as valuable by-products.
Product overview
Rare Earths Norway (REN) operates as a mining and mineral processing company developing the Fen Carbonatite Complex in Telemark, Norway. The company produces a mixed rare earths concentrate through three integrated stages: Mining (underground extraction of carbonatite ore), Beneficiation (milling and flotation mineral processing), and Hydrometallurgy (chemical dissolution and precipitation). REN covers stages 1-3 of the mine-to-magnet value chain, producing concentrate that feeds into downstream separation, metal production, and magnet manufacturing operations handled by other industrial partners. The company also extracts niobium and thorium as valuable by-products. Key projects include the RareGreen Project (EIT Raw Materials KAVA 9, 2022-2025) focused on developing sustainable processing methods.
Differentiator
Problem solved
Functional benefit
Products and services
- Mixed Rare Earths Concentrate
- Niobium By-Product
- Thorium By-Product
Quantifiable outcome
- Near doubling of Europe's largest documented REE deposit to 15.9 million tonnes TREO
- +2 more outcomes
Companies that use Rare Earths Norway
Customer profileSegments4 records
Ideal customer profiles4 records
Rare Earths Norway technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Rare Earths Norway partnerships and signals
Strategic signalPartnerships
Five partnerships are on record, tiered core and minor.
- Norwegian University of Science and Technology (NTNU)coreAcademic partner in EIT RawMaterials KAVA 9 project for development of sustainable processing methods. Project period September 2022 – August 2025, focusing on process mineralogy, Beneficiation method, hydrometallurgical method, by-products development, radioactivity mapping, water management, and environmental monitoring.
- Chalmers University of TechnologycoreAcademic partner in EIT RawMaterials KAVA 9 project for development of sustainable processing methods. Contributes to the flowsheet and demonstrator development for sustainable processing of rare earths elements.
- CarestercoreIndustrial partner in EIT RawMaterials KAVA 9 project for development of sustainable processing methods. Provides industry expertise for producing pure mixed rare earths concentrate with highest environmental standards.
- European Raw Materials Alliance (ERMA)coreERMA, part of EU-funded European Institute of Innovation and Technology – Raw Materials (EIT RM), endorsed Rare Earths Norway in May 2022. This prioritization recognizes the importance of the Fen REE deposit as probably the largest REE resource in Europe and its significance for the industrial transition from fossil to renewable technologies.
- Norsk Mineral ASminorCompany under Hustadlitt Group with diversified operations mainly within minerals and renewable energy. REN's registered address is c/o Norsk Mineral AS.
Scale indicators5 records
Recent moves6 records
Expansion highlights6 records
Rare Earths Norway competitors and assessment
Company assessmentEmerging players
- Peak Resources: Developer of the Ngualla REE project in Tanzania, focused on a low-cost, long-life concentrate operation feeding downstream separation. Comparable as a pre-construction REE developer targeting NdPr concentrate offtake.
- Energy Fuels: US-based uranium and rare earth processor producing a mixed REE carbonate from monazite sands at its White Mesa mill. Comparable as a Western-aligned REE feedstock processor with strategic relevance to US/EU supply chains.
- Northern Minerals: Operator of the Browns Range heavy rare earth project in Western Australia, focused on dysprosium and terbium. Comparable as a small-cap Western REE miner developing niche REE resources outside China.
Direct peers
- Arafura Resources: Developer of the Nolans NdPr project in central Australia, currently advancing toward construction. Comparable as a pre-production REE developer with similar NdPr-skewed offtake focus.
- MP Materials: Operates the Mountain Pass mine in California, the largest REE mine in the Western Hemisphere. Comparable as a Western-aligned REE miner transitioning from concentrate to downstream separation and magnet materials.
- Iluka Resources: Australian mineral sands producer developing a dedicated rare earth refinery in Eneabba. Comparable as a Western REE feedstock/refinery developer targeting the same NdPr-rich permanent-magnet value chain.
- Hastings Technology Metals: Australian developer of the Yangibana REE project, a hard-rock carbonatite-hosted REE resource targeting NdPr concentrate for permanent magnets. Closely comparable deposit style and project stage.
- Lynas Rare Earths: Australia-listed, the largest non-Chinese producer of separated rare earths (Mt Weld mine + Kalgoorlie processing). Comparable as a fully integrated rare earth miner/processor targeting permanent-magnet feedstock for Western supply chains.
Broad incumbents
- Neo Performance Materials: Global downstream processor of rare earth materials into magnets, chemicals, and powders. Comparable as a counterpart in the Western REE value chain that REN's concentrate could feed into.
Others
- Carester: French REE separation and refining specialist, REN's industrial partner in the KAVA 9 RareGreen project. Comparable as a European REE separation counterpart and direct collaboration partner in the RareEarths Norway value chain.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Rare Earths Norway social profiles
Digital presenceRare Earths Norway financial estimates
Financial estimateRevenue estimate
Valuation estimate
Rare Earths Norway leadership team
Management profileNumber of profiles
Profiles8 records
Rare Earths Norway funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Rare Earths Norway M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Rare Earths Norway
What does Rare Earths Norway do?
Rare Earths Norway develops the Fen Carbonatite Complex in Telemark, Norway, performing underground mining of carbonatite ore, beneficiation (milling and flotation), and hydrometallurgical processing to produce a mixed rare earths concentrate. The concentrate is intended for European industrial customers in the permanent magnet value chain for use in electric vehicles, wind turbines, and defense applications. The company also extracts niobium and thorium as valuable by-products.
Is Rare Earths Norway a public or private company?
Rare Earths Norway is a private company. It is classified as family owned and is currently operating.
When was Rare Earths Norway founded?
Rare Earths Norway was founded in 2016. It employs 11 to 50 people.
Where is Rare Earths Norway based?
Rare Earths Norway is headquartered in Molde, Norway, in the Europe region.
How does Rare Earths Norway make money?
One revenue line is on record: mixed Rare Earths Concentrate Sales.
Who are Rare Earths Norway's main competitors?
Emerging players on record are Peak Resources, Energy Fuels and Northern Minerals. Direct peers are Arafura Resources, MP Materials, Iluka Resources, Hastings Technology Metals and Lynas Rare Earths. Neo Performance Materials is listed as a broad incumbent. Carester is listed as an others.
Does Rare Earths Norway have an API?
No public API is recorded for Rare Earths Norway.
What industry is Rare Earths Norway in?
Rare Earths Norway's product category is Rare Earth Mining. Its primary akta.pro industry code is IMAKAFAG, Rare Earths Mining & Concentrates (REE Ores). Its SIC code is 1090.