The European Union has been actively working to secure its supply of critical minerals, an effort that has been turbocharged in recent years. Critical minerals are those that are essential to the functioning of modern-day economies and are used in a wide range of industries, from electronics to energy. As such, they are vital to the EU’s economic growth and development
. In recent years, the EU has taken a number of steps to strengthen its supply of critical minerals. In 2017, the European Commission (EC) launched its Raw Materials Initiative, which aimed to ensure secure, sustainable, and competitive access to raw materials for the EU’s industry. This initiative included a number of measures to promote the exploration, extraction, and recycling of critical minerals, as well as to reduce the EU’s dependence on imports from outside the bloc.
The EU has also taken a number of steps to ensure that its critical minerals are sourced responsibly. In 2018, the EC launched its Responsible Sourcing of Minerals initiative, which seeks to ensure that the minerals used in the EU are sourced responsibly, with respect for human rights and the environment. The initiative includes a number of measures to encourage responsible sourcing, such as the development of due diligence systems and the establishment of a certification scheme.
In addition to these initiatives, the EU has also taken a number of steps to promote the development of a competitive and sustainable critical minerals sector within the bloc. This includes the development of research and innovation initiatives to promote the exploration and extraction of critical minerals, as well as the promotion of recycling and reuse of these minerals. The EU has also sought to strengthen its international cooperation on critical minerals. In 2019, the EC launched its International Critical Minerals Strategy, which aims to promote the development of a global market for critical minerals and to ensure that the EU’s supply of these minerals is secure. The strategy includes a number of measures to promote international cooperation, such as the establishment of a network of critical minerals stakeholders and the development of a platform for dialogue and cooperation between the EU and its international partners.
Finally, the EU has taken a number of steps to ensure that its critical minerals sector is able to compete on a global scale. This includes the development of a number of initiatives to promote the competitiveness of the sector, such as the establishment of a European Raw Materials Alliance and the launch of a European Critical Minerals Observatory. Overall, the EU’s efforts to secure its supply of critical minerals have been turbocharged in recent years. The bloc has taken a number of steps to ensure that its supply of these minerals is secure and sustainable, and to promote the competitiveness of its critical minerals sector. These efforts have been successful, with the EU now being one of the leading players in the global critical minerals market.
