Europe is today 98% dependent on one country for rare earths.
President @vonderleyen proposed yesterday at the #EPlenary to create a critical raw materials club to collectively strengthen supply chains and diversify suppliers.
🐦🔗: https://n.respublicae.eu/EU_Commission/status/1616097498057117701
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Rare earths are vital for manufacturing key technologies – like wind power generation, hydrogen storage or batteries.
For example, three countries account for more than 90% of lithium production. This drives up prices and threatens our competitiveness.
🐦🔗: https://n.respublicae.eu/EU_Commission/status/1616097506160513028
Europe needs to improve the refining, processing and recycling of raw materials locally.
We will work with our trade partners to cooperate on sourcing, production and processing to overcome the existing monopoly.
🐦🔗: https://n.respublicae.eu/EU_Commission/status/1616097515815985154