The European Commission has identified 47 strategic projects which it hopes will kickstart the region’s critical minerals sector and reduce its dependence on imports, particularly from China. But even as European policymakers work to build a future industrial base, they are facing a crisis in the region’s existing metals sector.
Chinese over-capacity and high energy prices have accelerated the long-term decline of European steel and aluminum production. The latest threat, however, is coming from the United States. President Donald Trump’s tariffs, particularly the increased tariff on aluminum imports, risk displacing a flood of metal into Europe.
Europe’s response is shaping up to be equally protectionist, heralding more fracturing of global trade patterns. Europe’s strategic projects qualify for fast-track progression through the permitting stage – a maximum 27 months for mine projects and 15 months for processing projects – and access to funding both at European and national level.
For the rest of this column: https://www.reuters.com/markets/commodities/europes-future-metals-strategy-hindered-by-current-crisis-andy-home-2025-03-28/