Norge Mining has discovered 77 billion tons of phosphate rock.
The company's founder said it could satisfy global demand for fertilizer and EVs for 50 years.
Russia is another leading producer of phosphate rock, but the war in Ukraine has disrupted trade.
Norge Mining, which reportedly found the massive site in southwestern Norway in 2018, announced in May that it had discovered 77 billion tons worth of the mineral, according to The Economist.
According to the OCP Group, a phosphate rock mining company, the rock is used to produce phosphorous, a key ingredient in fertilizers.
Persons:
Michael Wurmser, EURACTIV, Wurmser
Organizations:
Mining, Service, Norge Mining, OCP, Hague, Strategic Studies, Bloomberg
Locations:
Russia, Ukraine, Wall, Silicon, Norway, Morocco, China, Europe