EU ‘pulling out all stops’ with minerals projects as it tries to avert China trade war
Commissioner Stéphane Séjourné says bloc will support 46 strategic projects including lithium and rare earths plants
TL;DR
- The EU is launching 46 strategic projects with a €21bn investment to boost critical raw material supplies by 2030.
- Projects include plants for lithium, gallium, and rare earths, crucial for automotive, defense, and renewable energy sectors.
- The initiative aims to reduce the EU's dependence on China and mitigate potential trade tensions.
- Flagship status grants accelerated permitting and assistance in mobilizing funds for projects.
- Despite efforts, some industry criticism suggests the scheme may not be strong enough to meet 2030 targets.
- The EU aims to reduce dependency on China for rare earths, following Japan's example.