The EU will jointly buy critical minerals and set up a storage centre

Brussels wants European companies to stop sourcing 100% from China
Brussels is taking action to reduce its dependence on China in the field of minerals. The Commission presented on Wednesday the strategy called Resource EU. It is based on two axes: joint purchases and storage space. The star point will be the creation of a new strategic European Raw Materials Centre, which should be up and running by 2026. This body will have to supervise and coordinate the acquisitions of minerals for the member states according to the needs of the companies. A storage centre for these metals will also be set up, always from 2026.

“European companies must stop getting 100% of their goods from China,” says Brussels
This project already has a budget. The EU vice-president for Industrial Strategy, Stéphane Séjourné, plans to allocate “at least 3,000 million euros” of European funds in the next 12 months to “unblock” the most immediate initiatives in three areas: permanent magnets, batteries and defence. This money will be used to finance strategic projects in the extraction, refining and recycling of these essential minerals and metals for numerous sectors. China leads both the world in the extraction of critical minerals and its refining process.

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