Europe allocates 3 billion euros to reduce dependence on China’s rare earth minerals

of rare earth elements and vital minerals used in the technology,

energy and electric vehicle industries.

The commission said the funding package is part of a plan

to strengthen the bloc’s ability to secure strategic supply chains.

This comes amid rising geopolitical risks and increasing global competition

for minerals essential to the transition to clean energy.

The European Union currently relies on China for more

than 90% of its rare earth element needs.

According to the statement, a large portion of the funding

will be directed towards mineral extraction,

refining and processing projects within the EU countries.

In addition to supporting research related to developing recycling

technologies and reducing reliance on external resources,

This is with the aim of strengthening European industrial independence.

The commission explained that this step will boost sensitive sectors

such as batteries, electronic chips, electric vehicles and renewable energy.

These are sectors that Brussels considers essential to global

economic competitiveness in the coming years.

The announcement comes as part of a broader strategy to

achieve the goal of producing at least 10% of critical minerals within the Union by 2030.

And it increased recycling capacity to exceed 40%,

which contributes to strengthening European economic security.