$12 trillion worth of newfound resource found by scientists could power EVs for 50 years
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Scientists have discovered $12 trillion worth of a newfound resource that could power EVs for 50 years.
Anglo-Norwegian mining company Norge Mining found 70 billion tonnes of phosphorus in Norway.
If sold in its entirety, this would be worth a staggering $12 trillion.
And it’s not just in monetary value that this discovery has huge ramifications.
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How this $12 trillion discovery of resources could be big news for EVs
EVs are a growing market, and a big topic of conversation is how to keep the industry growing.
Whether it’s the number of charging stations available or the level of interest, there’s a lot to consider.
But perhaps no subject attracts more interest within the field than the question of batteries.
After all, an EV can’t run without one.
We’ve seen a lot of quirky suggestions offered up, such as batteries derived from shellfish or batteries that can recharge as quickly as a refill at a gas station.
Minerals have also been a big part of the equation.
Back in 2024, an American company found 2 billion tons of rare Earth minerals in Wyoming.
But in 2025, it’s Norway that’s uncovered a huge amount of minerals.
Norge Mining found 70 billion tonnes of phosphorus in a huge move for the industry, the BBC reported.
The mineral is on the European Union’s list of minerals of importance to the economy, and for good reason.
If sold in its full amount, this amount would be worth $12 trillion.
You don’t need to see how many zeros are on that number to know that’s a gargantuan sum.
And with enough to power all EVs for the next 50 years, it’s a huge win on that front too.
Why is phosphorus so important?
Phosphorus comes from phosphate rock, and around 90 percent of mined phosphorus is used as fertilizer in the agriculture industry.
Given that it comes from rocks, it’s obviously a limited resource.
Before this recent discovery, the largest amount found was 50 billion tons in the Western Sahara.
The mineral is essential for electric cars and solar panels.
Although these are both good for the environment, the process of extracting phosphorus can cause a lot of pollution.
Norge Mining has said it will be using carbon capture and storage to try and offset some of the environmental impact.
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