EU Launches 13 Overseas Projects to Secure Critical Raw Materials

The European Commission has announced 13 new strategic raw material projects outside the EU as part of its Critical Raw Materials Act to diversify supply sources and reduce dependency on key suppliers like China and the US. These projects, located in countries including Canada, Greenland, the UK, Norway, Serbia, Ukraine, Brazil, Zambia, Malawi, South Africa, and New Caledonia, focus on critical battery materials such as lithium, nickel, cobalt, manganese, graphite, as well as rare earth elements essential for energy transition, defense, and aerospace sectors. The move follows China's recent export curbs on rare earth magnets, which are vital for electric vehicles, wind turbines, and other technologies, prompting the EU to enhance its economic security and industrial competitiveness. The EU aims to develop 60 such projects by 2030, with coordinated financial support amounting to approximately 5.5 billion euros to ensure success. Notably, projects like Mkango Resources' Songwe Hill in Malawi and the Pulawy separation plant in Poland represent integrated supply chains for rare earth elements. This initiative also addresses geopolitical tensions, including trade conflicts with China and US interest in regions like Greenland.