EU, 13 critical materials projects outside the bloc - New initiatives aim to reduce dependence on Chinese exports
The European Union announced 13 new raw materials projects outside the bloc to boost its supplies of critical metals and minerals. The EU aims to stay competitive in the energy transition, as well as in the defense and aerospace sectors.
The announcement follows China's decision in April to impose restrictions on exports of rare earth magnets until new licenses are obtained, forcing carmakers and other companies to secure meetings with Beijing officials and avoid factory closures.
"We need to reduce our dependencies on all countries, especially on states like China. Export bans increase our willingness to diversify," official sources within the bloc said.
China controls more than 90% of global processing capacity for magnets, which are used in everything from vehicles and fighter jets to household appliances. It is also the main supplier of many key inputs for renewable energy, particularly rare earths, batteries and solar panels.
The EU list is part of the implementation of the Critical Raw Materials Act adopted in 2023, under which the bloc aims to extract 10%, process 40% and recycle 25% of its needs by 2030.
Ten of the new projects will focus on materials essential for electric vehicle batteries and battery storage, including lithium, cobalt, manganese and graphite. Two rare earth metals projects are located in Malawi and South Africa.
Other initiatives are located in Britain, Canada, Greenland, Kazakhstan, Madagascar, Norway, Serbia, Ukraine, Zambia, Brazil and the French territory of New Caledonia.
The British project aims to mine tungsten, and those in Ukraine and Greenland will process graphite. Tungsten is a key material for the defense industry.
Greenland has been a point of tension between Brussels and Washington this year after US President Donald Trump repeatedly said he wants to buy the Danish overseas territory.
While the Serbian project could produce 90% of Europe's lithium needs, the initiative has encountered legal hurdles and many Serbs are concerned about the negative impact on the environment.
The European Union has estimated that the projects will require a total investment of 5.5 billion euros to get off the ground. The new list brings the total number of EU strategic projects to 60. In March, the Commission announced 47 projects within the bloc.
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