Europe Aims to Reduce Reliance on China for Critical Minerals

Europe has been looking for ways to accelerate its rare earth metals production to diversify its supply chain and reduce reliance on China as its main supplier. Several minerals will be crucial for the development of the global renewable energy industry, helping energy companies to produce batteries, solar and wind equipment and clean technologies.

Europe’s mineral mining industry continues to be underdeveloped, but several energy companies are carrying out exploration efforts to assess the potential to develop new mining activities. The EU established its Critical Raw Materials Act with the aim of extracting a minimum of 10 percent of the region’s annual critical mineral demand from within Europe by 2030. Nonetheless, there are several constraints to the expansion of mineral mining, such as environmental concerns.

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