Is Europe late to the critical minerals race?

93% of permanent magnets for wind turbines are imported from China, 95% of rare earths come from just three countries. The European strategy is based on promoting responsible mining, intensifying diplomacy with allies to secure supplies, and promoting circularity. Although it approved the CRMA, it is advancing slowly and with a lack of funds against the United States. and Chinese. On the global geopolitical chessboard, while the United States executes military operations in Venezuela to reconfigure energy flows and covets Arctic resources, and China consolidates its almost absolute dominance over supply chains, Europe seems to be lagging behind in efforts to have some sovereignty and strategic independence in terms of access to and production of critical minerals. The answer, based on data, industry reports, and expert analysis, points to a worrying “yes.” Despite the recent European Critical Raw Materials Act (CRMA), the continent is moving dangerously slowly, lacking strong financial tools and seeing its strategic projects stall, in a context where its main geopolitical rivals act with much greater determination and resources.

Continue reading news in El Periódico de la Energía