Norwegian Phosphate Rock Discovery Could Meet Global Fertilizer Demand for 50 Years

Norge Mining, a Norwegian mining company, unearthed 70-billion metric tons of phosphate rock 2.7 miles below the earth’s surface in 2021. The company now estimates the discovery will supply the world with phosphate for 50 years.

According to Columbia University, 90% of the world’s mined phosphate is used as fertilizer in agriculture. Morocco supplies 34% of the world’s traded phosphate rock, which is then refined in China, Vietnam and Norway, according to the EU. But this dynamic could soon change with Norge Mining’s discovery.

Jan Christian Vestre, Norway’s Minister of Trade and Industry, says the country plans to use carbon capture practices to refine the 70-billion metric ton phosphate rock in a move to develop “the world’s most sustainable mineral industry.” 

While ag will likely use the majority of the mineral, Norge Mining says it will also be used in lithium-iron-phosphate batteries in electric vehicles, and also in solar and chip manufacturing.

EDITOR’S TAKE:

The discovery of phosphate reserves in Norway is a game changer. Although it is just now in the initial stages of being mined, it will boost available supplies and allow the U.S. to purchase from a friendly nation. This loosens the stranglehold that currently exists with available supplies. We will not know the total impact on supplies and pricing until operations in Norway are in full production mode. That said, this will likely be good news for U.S. farmers/ranchers. Having an alternative supply that comes from a more stable nation is itself welcome news. Perhaps you might share this news with your agricultural customers in case they did not hear it from another source. Also, be sure to remind them that if they are concerned about fertilizer for their operation, AgPack® offers a phenomenal deal through our great partner, AgroLiquid! Check out their discount offer on certifiedagdealer.com and all the other wonderful AgPack® offers!