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The EU wants to ensure a reliable and sustainable supply of raw materials such as lithium and silicon with a new set of rules. Representatives of the governments of the Member States and the European Parliament agreed late on Monday evening on a text for a corresponding regulation. In particular, it aims to promote the refining, processing and recycling of critical raw materials in Europe to reduce dependence on countries such as China.
According to the European Commission, guidelines have also been agreed for the different phases of the value chain. They will, among other things, increase the EU’s processing capacity for critical raw materials to produce at least 40 percent of the Union’s annual consumption by 2030. In addition, at least 25 percent of annual consumption must be covered by the EU’s recycling capacities.
In addition, the EU wants to set itself the goal of diversifying the external supply of strategically important critical raw materials to the EU. The aim is to ensure that no third country accounts for more than 65 percent of the Union’s annual consumption – with the benchmark referring to all raw materials classified as strategic at each relevant processing stage.
“With targeted economic incentives, we create real planning certainty for private investors – for example through central contact points for companies and fast and simple approval procedures with clear deadlines for national authorities,” explains Vice-President of Parliament Nicola Beer (FDP). A framework for strategic raw materials partnerships with third countries will also make the EU an attractive partner in geopolitical competition.
The rapporteur of the Christian Democratic EPP group, Hildegard Bentele (CDU), also called the regulation a “warning shot for China” due to its diversification objectives. The country is currently still considered a very important supplier to the EU.
When presenting its draft regulation in March, the European Commission stated that crucial raw materials are indispensable for a wide range of climate protection technologies, as well as for digital, space and defense. At the same time, however, the supply of the substances is accompanied by increasing geopolitical, ecological and social risks. The EU is dependent on several crucial raw materials and often more than 90 percent of the EU’s needs are met by a single third country.
As an example, the European Commission cited rare earth metals, which are used to build permanent magnets for wind turbine engines. According to authorities, until recently 100 percent of this was refined in China. Another example of a critical raw material is lithium, which is used in batteries for electric vehicles and to store energy. According to the EU, demand for the light metal is likely to increase twelvefold by 2030. Silicon, necessary for the production of microchips, is also extremely relevant.
According to the Council of Member States, a total of 34 raw materials must be classified as critical. Under the agreement, the separate list of strategically important raw materials will initially consist of 17 entries. The deal must now be confirmed by the Council of Member States and the plenary of the European Parliament. However, this is considered a formality.
(SDA)
Source: Blick
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
