Speaking at the European Raw Materials Alliance Summit, the European Commissioner for Internal Market, Thierry Breton, rang the alarm bell regarding the EU’s dependence on third countries for 99 products – mostly raw materials – needed for the energy-intensive industries ecosystem.
Breton made a case point regarding rare earths supply, 98% of which are delivered to Europe from China, either raw or refined.
“It is not an enviable position to be in, but we are not alone: the US, Japan, the UK, Canada, Australia, India and others are rushing to address this vulnerability as well,” the commissioner said.
“I believe we are in a similar situation with rare earths and permanent magnets as we were a few years ago with batteries and lithium: Total dependence on China, very limited EU production, no European regulation to encourage ethical sourcing of rare earths, create demand for recycled materials or give a competitive advantage to European manufacturers through carbon footprint requirements, and downstream industries which benefit from the current situation in terms of cost/benefit ratio.”
For the rest of this article: https://www.mining.com/europe-taking-steps-to-cut-reliance-on-china-for-raw-materials/