Media reports on immediate EU measures
The European Union is apparently stepping up efforts to strengthen its resilience in raw material supply through several initiatives. According to a report by the Financial Times, these measures include the creation of emergency stockpiles of critical resources such as rare earths and magnets made from them. The newspaper refers to a draft document by the European Commission, which is expected to be presented later this week.
Meanwhile, German newspaper Handelsblatt reports, citing an unpublished Commission document, that efforts are underway to improve industrial access to rare earths. Since April, China — the world’s main supplier — has partially restricted exports of these materials by introducing licensing requirements. Exports of heavy rare earths such as dysprosium have largely come to a standstill as a result.
European companies particularly affected by these developments can now register their cases on a new EU platform. The Commission plans to address these anonymized cases in discussions with the Chinese authorities, with the aim of accelerating the approval of export licenses.
Photo: Europe Dušan Cvetanović via Canva