Sweden’s government has declared mining of critical metals and rare earth minerals a national security interest, launching a new strategy to reduce the country’s dependence on China.
The announcement came on 23 July, 2026, from Ebba Busch, Sweden’s Enterprise Minister and Deputy Prime Minister.
China accounts for around 69% of global rare earth mine production, according to the US Geological Survey, which gives Beijing significant leverage in its trade disputes with Washington, and other trading partners.
State-owned mining company LKAB’s Kiruna mine is home to the Per Geijer deposit, one of the European Union’s flagship projects to reduce reliance on China, holding 1.2 billion tonnes of total mineral resources, including 2.2 million tonnes of rare earth oxides.
Johan Menckel, who became President and CEO of LKAB earlier this year, has said the company can play a decisive role in developing Europe’s industrial value chains.