New Delhi: Norway seems to have struck gold in the form of a recent discovery of what is being termed as ‘World’s Largest Phosphate Deposit’. The phosphate deposits were discovered in southern Norway and could have profound implications for the future of green technology. The quantity of the highly prized element is 70 billion tonnes. Now that the 70 billion tonnes of phosphate are now confirmed in the country’s soils it gives great hope to find better and advanced supply chains for key materials used in electric vehicle batteries solar panels and fertilizers. Europe which has long struggled with resource dependency will now hopefully be self-sufficient as described by Norge Mining the company behind the discovery which further said that the vast deposits were discovered earlier this year. According to EuroNews the phosphate deposit located in the southwestern region of Norway is not just large it is potentially transformative. Norge Mining which uncovered the deposit in 2018 reported in May that the site contains 70 billion tonnes of phosphate. This find could ensure a steady supply of this critical material for at least the next 50 years providing a much-needed boost to the production of green technologies. Phosphate is a vital part in many devices from battery production for electric vehicles to solar panels and fertilizer. It has gained a lot of significance as the world continues to prioritize sustainable energy solutions. Founder and deputy CEO of Norge Mining Michael Wurmser says that this discovery is notable because it is larger than all known phosphate sources in Europe making it a significant player in the global market. With these deposits Norway can become a serious competitor and rival to countries like China Morocco and Russia which will in turn provide an impetus to Europe which has been for a very long time been facing challenges in securing this vital resource. The continent has long relied on China Morocco and Russia to meet its phosphate needs often dealing with unstable supply chains and geopolitical tensions. For example the war in Ukraine disrupted the phosphate supply pushing Europe to look for alternative sources. But this discovery is being viewed as an opportunity to reduce Europe’s dependency on external suppliers. Given the location of the phosphate within Europe the logistical challenges of obtaining and transferring this element would be negligible.