Latest News

EU to call for mineral tasks, eyes joint purchases

The European Commission will launch calls within days for projects to improve EU supply of vital minerals and hopes soon to start joint EU purchases along the lines of its existing plan for gas, a senior commissioner said on Wednesday.

The EU Critical Raw Materials Act is created to guarantee a. supply of lithium, copper and other minerals essential for the. EU's green and digital shifts, to make it possible for the bloc to. produce its own electrical automobiles or wind turbines and to decrease. dependence on China. It enters force on May 23.

Commission Vice-President Maros Sefcovic stated the EU. executive would assemble a very first conference of a board with EU. members managing the act.

Within the days after that ... we would like to release the. initially require tactical projects, Sefcovic said on the. sidelines of the EU Raw Materials Top in Brussels.

Processing, recycling or mining jobs deemed tactical. ought to have the ability to protect licenses in 15-27 months, far quicker. than regular. Sweden's Eurobattery Minerals AB has stated it will. submit an application for a mine in Finland to be strategic.

Sefcovic stated the Commission was beginning to sketch out. prepare for joint purchases of as much as about 30 products, building. on its experience of typical purchases of gas. The EU executive. would function as a matchmaker in between global providers and EU. purchasers.

Sefcovic stated the scheme ought to be launched rather quicker. than later on, recognising that EU members would require to be. persuaded, which spent some time in the case of gas.

The commissioner said the platform used for gas purchases. might work as a blueprint, though recognised buying multiple. different crucial minerals would be more complicated. The system. might likewise be used to get a more accurate sense of future need.

Sefcovic said the Commission was also checking out the. possibility of stockpiling specific crucial minerals, stating. inspiration came from the Japanese design for rare earths.

(source: Reuters)