US EditionEU Efforts to Diversify Critical Raw Material Imports Fail so Far ...
- On Monday, the European Court of Auditors said the EU27 is unlikely to diversify critical raw materials supply by the end of the decade, risking the energy transition,
- Dominance in refining and processing means China accounts for 60% of global critical raw materials production and 90% of refining capacity, while the EU depends on Beijing for 97% of magnesium and 98% of rare-earth magnets, auditors said.
- Recycling data show that seven materials are recycled at rates only from one to five percent, and 10 have zero recycling, said Pentus-Rosimannus, ECA auditor.
- The European Court of Auditors said the bloc must diversify partners, boost domestic production, recycle more, and noted the Mercosur trade deal awaits European Parliament approval while lawmakers debate the US-EU minerals deal on Thursday.
- A December policy brief cautioned Beijing uses dependencies as geopolitical leverage, while Chinese authorities approved only 19 of 141 licence applications from 22 European companies under the 2024 Critical Raw Materials Act.
56 Articles
56 Articles
The European Court of Auditors warns against bottlenecks in the supply of critical raw materials.
The EU remains heavily dependent on third countries for metals essential for green technologies, warns the European Court of Auditors, which in a report published on Monday 2 February denounces low-binding targets and insufficient results.
Too little progress has been made, according to an audit by the European Court of Auditors. ...
Europe is dependent on individual supplier countries such as China for many important raw materials. Despite billions of dollars, new partnerships, more recycling and mining are hardly progressing in the EU so far.
The EU is struggling to secure the supply of raw materials to meet its energy and climate goals, the European Court of Auditors has found. Domestic production and recycling are not developing fast enough, making the target of securing a secure supply of these raw materials by 2030 unattainable, the auditors warned.
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