According to MiningWeekly, the head of the EU industry alliance emphasized that only by accelerating the expansion of financing and licensing approvals can the goal of reducing external dependence on key materials be achieved.
According to the EU Key Raw Materials Act, which has not yet been implemented, the EU has set a target for minerals required for green transformation by 2030: 10% from local mining, 15% from recycling, and 40% from local processing.
In addition, the bill also stipulates that the dependence of any raw material on a third-party country cannot exceed 65%.
Bernd Sch? Fer, director of EIT Raw Materials at the EU Institute for Innovation and Technology, believes that demand cannot be met by 2030.
A key issue is to expand financing, accelerate investment, and license approvals. We must implement these goals as soon as possible to achieve them, "he said on the sidelines of the EIT Raw Materials Summit in Brussels.
The demand for 34 raw materials, including copper, nickel, and rare earths, is expected to rise rapidly. The European Commission predicts that the EU's lithium demand in 2030 will be more than 18 times that of 2020, and cobalt demand will be more than 5 times.
Schafer stated that he is more confident in achieving the target of 10% domestic mining, but doubts whether it can reduce his dependence on third countries to below 65%.
This requires a huge effort, as meeting 35% from elsewhere is definitely a large number, "he said.
Schafer said that this effort will rely on international partners, such as revising trade agreements with Chile, a major lithium producing country, and reducing the amount of raw materials required for products, such as further reducing the weight of light vehicles.According to MiningWeekly's Reuters report, the head of the EU industry alliance emphasized that only by accelerating the expansion of financing and licensing approvals can the goal of reducing external dependence on key materials be achieved.
According to the EU Key Raw Materials Act, which has not yet been implemented, the EU has set a target for minerals required for green transformation by 2030: 10% from local mining, 15% from recycling, and 40% from local processing.
In addition, the bill also stipulates that the dependence of any raw material on a third-party country cannot exceed 65%.
Bernd Sch? Fer, director of EIT Raw Materials at the EU Institute for Innovation and Technology, believes that demand cannot be met by 2030.
A key issue is to expand financing, accelerate investment, and license approvals. We must implement these goals as soon as possible to achieve them, "he said on the sidelines of the EIT Raw Materials Summit in Brussels.
The demand for 34 raw materials, including copper, nickel, and rare earths, is expected to rise rapidly. The European Commission predicts that the EU's lithium demand in 2030 will be more than 18 times that of 2020, and cobalt demand will be more than 5 times.
Schafer stated that he is more confident in achieving the target of 10% domestic mining, but doubts whether it can reduce his dependence on third countries to below 65%.
This requires a huge effort, as meeting 35% from elsewhere is definitely a large number, "he said.
Schafer said that this effort will rely on international partners, such as revising trade agreements with Chile, a major lithium producing country, and reducing the amount of raw materials required for products, such as further reducing the weight of light vehicles.