# ‘Great news’: EU hails discovery of massive phosphate rock deposit in Norway

> Norge Mining reported a large high-grade phosphate rock deposit in Norway, estimated at a minimum of 70 billion tonnes. The company later revised its claimed supply horizon from 100 years to at least 50 years.

- Date: 2023-06-29 · published 2023-06-29T12:00:00.000Z
- Category: report · region Europe · magnitude low
- Page: https://feedsoft.ai/events/35821-great-news-eu-hails-discovery-of-massive-phosphate-rock-deposit-in-norway
- Commodities: [Phosphate Rock](https://feedsoft.ai/c/PHOSROCK.md), [DAP](https://feedsoft.ai/c/DAP.md)

## Why it matters

A major new deposit in Europe could eventually ease reliance on Russian and Moroccan phosphate, but it is an exploration-stage find with no near-term supply impact, so prices are unlikely to move much on it.

## Read by commodity

- DAP: bearish ▼
- PHOSROCK: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DAP | 2024-09-13 | [Morocco: A market mover in phosphates - CRU Group](https://feedsoft.ai/events/28646-morocco-a-market-mover-in-phosphates-cru-group.md) | -0.2% | +0.5% |
| DAP | 2020-06-03 | [OCP Group News Update: 1Q20 Results, Jorf Lasfar Site Improvements & Brazil Start-Up Investment – Phosphate Price](https://feedsoft.ai/events/52941-ocp-group-news-update-1q20-results-jorf-lasfar-site-improvements-and-brazil.md) | 0.0% | +6.6% |
| DAP | 2023-06-07 | [International Fertilizer Association confirmed no shortage of phosphorites expected - Fertilizer Daily](https://feedsoft.ai/events/35820-international-fertilizer-association-confirmed-no-shortage-of-phosphorites.md) | -1.7% | -2.1% |
| DAP | 2020-04-02 | [AgroPages-OCP Group achieves MAD 54.9 billion turnover in 2019-Agricultural news](https://feedsoft.ai/events/53967-agropages-ocp-group-achieves-mad-54-9-billion-turnover-in-2019-agricultural-news.md) | +1.8% | +1.7% |
| DAP | 2020-05-29 | [Morocco’s OCP Records Slight Turnover Decline in First Quarter of 2020](https://feedsoft.ai/events/53454-morocco-s-ocp-records-slight-turnover-decline-in-first-quarter-of-2020.md) | +2.6% | +5.6% |

## Sources

- euractiv.com: https://www.euractiv.com/section/energy-environment/news/great-news-eu-hails-discovery-of-massive-phosphate-rock-deposit-in-norway/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.