Metals industry asks the EU to invest more in minerals processing

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.

Elevate your business with QU4TRO PRO!

Gain access to comprehensive analysis, in-depth reports and market trends.

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.

By clicking subscribe you agree to our privacy and cookie policy and terms and conditions of use.

Read more insights

Interest for natural hydrogen prospects growing in various countries

In recent years, there has been growing interest in natural hydrogen, also known as white or gold hydrogen, which is produced from subsurface geologic accumulations. Once believed to be non-existent or inaccessible, reserves have been discovered in various countries.

London-based fossil fuel producer Energean aims to double size in the coming years

Energean, a Mediterranean-focused oil and gas producer, is aiming to double its size in the coming years, primarily through the expansion of its production in Israel. The company reported a 41.2% decline in first-half profit, largely due to a higher tax bill.

U.S., Japan, South Korea agree to deepen cooperation against China at Camp David

U.S. President Joe Biden, along with South Korean President Yoon Suk Yeol and Japanese Prime Minister Fumio Kishida, held a summit at Camp David to deepen military and economic cooperation among the three countries. This summit aimed to project a unified front in response to challenges posed by China’s increasing power and North Korea’s nuclear threats.

Stay informed