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Hades wins exploration licence for rare earth project in eastern Germany

The licence covers a 28.4 sq km area near Delitzsch, with historical estimates of about 38,000 tonnes of rare earth oxides, as Europe looks to cut import dependence.

Reported · Written up by our desk · Mining

Mining.com reports that startup Hades has secured an exploration licence for its Storkwitz rare earth project in eastern Germany, giving access to one of the few domestic rare earth deposits in Europe’s largest economy.

The Saxon Mining Authority granted the licence on July 31, covering a 28.4 sq km area near Delitzsch in northern Saxony. Historical surveys suggest the property could contain about 38,000 tonnes of rare earth oxides and 8,000 tonnes of niobium pentoxide, though Hades has not yet defined a resource under internationally recognized reporting standards.

Rare earth elements are used to produce permanent magnets for applications including electric vehicles, wind turbines, defense systems and electronics. Mining.com notes that Europe remains heavily dependent on imports, particularly from China, as governments seek to diversify critical mineral supply chains.

Hades says it will evaluate the deposit using its Cerberus laser drilling technology, which it claims can cut drilling costs by more than 50% versus conventional methods. The company also plans to assess in-situ recovery as an extraction approach, and it said it has raised €20 million, about $23 million, in two venture capital rounds since launching last year.

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