The European Union has launched 13 new projects to increase the supply of metals and minerals. The decision was made against the rear of China’s restrictions on exporting rare -earth magnets.
The European Union announced the launch of 13 new projects for the acquisition and processing of raw materials out of the block. Their goal is to strengthen the supply of metal and minerals needed for EU competitiveness in the field of energy transfer, defense and aerospace industry. This was reported by the Reuters on the eve of June 4.
This decision reacted to the restrictions introduced by China in April to export rare soil magnets. Before receiving new licenses, companies will have to turn to Chinese officials to avoid stopping production.
“We must reduce our hope in all countries, especially in a number of countries, such as China … Export restrictions strengthen our mood to vary,” the European commissioner explained for the Stefan Sedgeorn industry.
China controls more than 90% of global facilities for processing magnets, used in transportation, aviation, household and defense furniture. In addition, China is the main supplier of basic materials for making renewable energy – in particular rare -earth elements, batteries and solar panels. Brussels aims to change this situation.
New projects have been implemented within the plot Act on critical raw materialsAdopted in 2023. It provides by 2030 The EU must provide 10% of the needs for such materials by manufacture, 40% – processing, and 25% – disposal.
Of 13 new initiatives:
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10 associated with materials for batteries of electrical vehicles and energy storing systems, in particular lithium, cobalt, manganese and graphite;
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2 – mining of rare elements of land in Malawi and South Africa;
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1 UK project for getting tungsten, important for the defense industry.
Projects are also found in Canada, Greenland, Kazakhstan, Madagascar, Norway, Serbia, Ukraine, Zambia, Brazil and the French territory of New Caledonia.
In Ukraine and Greenland, the remembrance of projects graphite. .
Graphite is a key ingredient in the manufacture of batteries for electrical vehicles, electronics and defense technologies. The integration of the Ukrainian project with the EU’s strategic initiative contributes to the varying of providing critical materials and reducing the hope of China, which is currently controlling more than 90% of global capacities for processing magnets from rare elements.
The Tungsten project in the UK has strategic importance for the defense sector.
European Investments and Strategic Program
The European Commission examines the general demand for investments in these level projects 5.5 billion euros. The initiative will be supported by the European Commission, member states and international financial institutions.
These 13 initiatives fit 47 projectsApproved in March as part of the EU. The total number of strategic projects in the field of critical essential raw materials is now 60.
Remember that US president Donald Trump said he would postpone 50% of tariffs for all imports from the European Union to July to provide more time for trade negotiations.
EU has taken the issue of rare metals mining
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Source: korrespondent
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