EU Launches Initiative to Secure Critical Raw Materials Supply Chains

The European Union is taking significant steps to secure its supply of critical raw materials, particularly rare earths and lithium. With a focus on reducing dependence on China, the EU Commission is establishing a European Center for Critical Raw Materials.

This initiative aims to facilitate joint purchasing among member states and build essential stockpiles. The €3 billion ReSourceEU plan further underscores this commitment, mobilizing funds to promote local supply chains and recycling efforts.

As global tensions rise, particularly with recent Chinese export restrictions, the EU is emphasizing the importance of a circular economy and proactive economic strategies. By fostering collaboration and enhancing crisis preparedness, the EU seeks to mitigate risks associated with overreliance on external suppliers, thereby ensuring a more resilient and sustainable industrial future.