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FT reports that the EU is stockpiling critical minerals in response to geopolitical threats.

Financial Times, citing an EU draft document, reported that the European Union intends to stockpile essential minerals to protect against possible supply disruptions caused by geopolitical tension.

The draft said that "the EU faces a complex and deteriorating landscape of risk marked by increasing geopolitical tensions including conflict, the mounting impact of climate change, environment degradation, hybrid and cyber threats."

The FT reported that the document warned of a higher-risk environment driven by "increased activities from hacktivists and cybercriminals", as well as state-sponsored groups.

The European Commission didn't immediately respond to an inquiry for comment.

According to the newspaper, the draft document is still subject to changes and will be published next Monday. It states that there are "limited understandings of the essential items needed to prepare for a crisis in the context of a rapidly changing risk landscape".

The European Commission released its EU Preparedness Union Strategy in March. It urged member states to increase their stockpiles and encouraged citizens to have 72 hours worth of essential supplies on hand for emergencies.

The strategy aimed to prepare the EU for possible risks, such as cyberattacks, geopolitical crises and natural disasters. It also included the possibility of an armed attack against EU member states. (Reporting and editing by Tom Hogue, William Mallard, and Surbhi Misra from Bengaluru)

(source: Reuters)