Metals industry asks the EU to invest more in minerals processing
- September 8, 2023
- Posted by: Quatro Strategies
- Categories: Europe, Mining & Metals, Rare Earths & Commodities
Metal producers and consumers in Europe have urged the European Union (EU) to increase its investments in expanding processing capacity for critical minerals necessary for the energy transition, including those used in electric vehicles (EVs). In a letter to EU Commission President Ursula von der Leyen, industry association Eurometaux requested that the EU’s Innovation Fund, which primarily focuses on decarbonizing energy-intensive industries, should also incorporate critical minerals into its mandate.
The letter stressed the growing importance of these minerals, especially as China and the United States increasingly dominate the production and processing of these resources. China, in particular, controls a significant portion of cleantech manufacturing and critical minerals processing capacities, making it essential for Europe to boost its capabilities in this sector.
The letter was signed by prominent companies, including Rio Tinto, Norsk Hydro, Albemarle, Umicore, Northvolt, Solvay, and Aurubis. It suggested that the EU Innovation Fund could support the processing of critical minerals by replicating the model of the EU’s Hydrogen Bank, which was established to bridge the cost gap between renewable hydrogen and fossil fuels.
The letter also criticized the EU’s Strategic Technologies for Europe Platform, stating that it is not sufficiently focused or targeted to provide the necessary support for the critical minerals value chain’s scaling, conversion, processing, and refining operations.
Interested in learning more?
Sign up for Top Insights Today
Top Insights Today delivers the latest insights straight to your inbox.
You will get daily industry insights on
Oil & Gas, Rare Earths & Commodities, Mining & Metals, EVs & Battery Technology, ESG & Renewable Energy, AI & Semiconductors, Aerospace & Defense, Sanctions & Regulation, Business & Politics.
Read more insights
Surging gas costs may force European utilities to rely on coal again
Rising European wholesale gas prices over recent months might prompt utilities to switch back to coal for electricity generation this winter, even as countries aim to reduce their reliance on the carbon-intensive fuel. Despite significant progress in phasing out coal in nations like France, Britain, and Italy, coal remains crucial…
India loosens China FDI curbs, keeps tight checks on control
India is edging toward a managed thaw in its post-2020 investment lockdown on China, not a wholesale reopening, but a calibrated loosening designed to pull in capital and technology without surrendering control or diluting national-security screening.
The shift is being described publicly as the Modi cabinet agreeing to revise the “land-border” investment regime introduced in 2020 so that minor, non-controlling Chinese exposure can pass more easily, while larger or control-linked investments still face state scrutiny, with a new push to make approvals time-bound.
Europe looks for strategic autonomy with military reindustrialization drive
Europe is taking a page from the United States’ defense playbook. After decades of underinvestment in military capabilities, the continent is now seeking to build a formidable military-industrial complex of its own—and investors are paying close attention.
Germany this week asked the European Union to invoke an emergency clause that would exempt defense spending from the bloc’s fiscal constraints. It’s part of a wider five-year plan to rearm the continent, and the timing is critical. Global defense spending rose in 2024 at its fastest rate since the end of the Cold War, with Europe leading the charge. NATO members alone are expected to pump between €700 billion and €2 trillion in additional military outlays by 2030.