The EU’s push to reduce its reliance on China for a range of critical minerals is failing as it struggles to both increase domestic supplies and boost imports from other countries despite a series of deals, a report has warned.
China dominates global supply chains for a range of metals and minerals that are essential for industrial manufacturing, spanning the energy, technology, defence and other sectors. Beijing showed its willingness to weaponise that control last year by ratcheting up export bans on the supply of certain rare earths.
The US, EU and other governments are now racing to build out alternative supply chains, hoping to reshore some of the mining and metal-making industry domestically while also looking to pen deals with other overseas partners that would secure long-term supplies of critical minerals.