EU's Strategy for Critical Minerals: Investing in Autonomy and Sustainable Partnerships
The EU aims for strategic autonomy in critical mineral supply chains, currently dominated by China, to support its climate transition. The Critical Raw Materials Act sets 2030 benchmarks to reduce dependence on single countries for strategic materials. However, the EU's reliance on purchasing from various nations faces challenges due to inadequate infrastructure in those countries. A targeted investment in development aid is proposed to strengthen local capacities and create sustainable partnerships, ensuring the EU's climate goals are met while fostering competitiveness.
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The EU is addressing its reliance on critical minerals, predominantly sourced from China, essential for its green transition. The Critical Raw Materials Act aims to limit dependence on any single country to 65% by 2030, promoting domestic extraction and recycling.
However, challenges persist due to inadequate infrastructure in resource-rich countries, which hampers diversification efforts. The EU must invest in development aid to enhance local capacity and infrastructure, ensuring reliable supply chains and fostering long-term partnerships. This strategy aims to align environmental standards with economic needs, reinforcing the EU's strategic autonomy in critical minerals.
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