The EU is falling even further behind the US in the race for critical minerals
Washington and Beijing are outpacing Brussels in the competition to secure components used in defence and green technologies.
The European Union risks falling further behind the US in securing critical minerals, as Western countries seek to counter China's dominance in components essential for defense and green technology. The US has invested $40 billion in mining projects since 2022 and acquired stakes in domestic miners, while the EU has committed €6 billion to mineral projects this year, but industry officials warn that it is moving too slowly.
EU officials and industry leaders are concerned that the bloc's efforts to secure its supply chain are being hindered by slow permitting and a lack of financial support. The US is also seeking to form a coalition of countries to build supply chains that avoid China through the Forum on Geostrategic Resource Engagement (Forge), but EU officials are skeptical due to the US's unpredictable approach under former President Donald Trump.
Written by urgent.news from Expansion ES's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
