Swedish alum shale formations, including the Viken Deposit, which is held by Bergslagen Metals AB, contain several metals that are listed as critical raw materials by the European Union. According to the Geological Survey of Sweden (SGU), economically significant levels of vanadium, uranium, nickel, molybdenum, zinc, copper, and rare earth elements have been confirmed in these shales (SGU Rapport 2024:08).
These metals are vital to Europe’s green and digital transition, and their supply is prioritized under the EU Critical Raw Materials Act, which sets 2030 targets for domestic extraction, processing, and recycling.
Vanadium (V)
Vanadium is used in high-strength steel and in long duration batteries that help stabilize renewable energy systems. Since the EU currently imports nearly all its vanadium, primarily from countries like China, South Africa, and Russia, securing a domestic supply is a strategic priority (European Commission, 2023).
Uranium (U)
Uranium is essential for nuclear energy, which supplies about a quarter of the EU’s electricity with low carbon emissions. Sweden has extractable uranium in alum shale, while most of the EU’s current supply is imported from Kazakhstan, Canada, and Australia (SGU Rapport 2024:08).
Nickel (Ni)
Nickel is a key material in batteries, especially for electric vehicles, as well as in stainless steel. Demand is growing rapidly in Europe, which relies on imports mainly from Indonesia and the Philippines. The presence of nickel in Swedish alum shale adds long-term value to domestic supply potential.
Molybdenum (Mo)
Molybdenum improves the strength and corrosion resistance of steel, and is used in energy, defense, and chemical industries. It supports durability in technologies like wind turbines. The EU imports nearly all its molybdenum, with China as the leading global producer.
Copper (Cu) and Zinc (Zn)
Copper is crucial for electricity transmission, motors, and renewable energy infrastructure. Zinc protects steel from corrosion and is widely used in clean energy and construction. Both are heavily imported into the EU, with Chile (for copper) and China (for zinc) as major suppliers.
Rare Earth Elements (REEs)
REEs are essential in magnets for wind turbines, electric vehicles, and electronics. Even in small quantities, their presence in alum shale is strategically significant. The EU remains almost entirely dependent on China for REE supply, making any domestic contribution important (European Commission, 2023).