30 C
Belgrade
Supported byspot_img
spot_img

German industry leader sounds alarm on Europe’s raw materials risk amid declining mining sector

Member of Europium Groupspot_img
Supported byspot_img

Europe is at significant risk of losing essential raw materials due to its trend of phasing out mining instead of investing in new mining projects, according to Wolfgang Niedermark, a member of the executive board of the Federation of German Industries (BDI). Speaking at the MiningForum in Berlin on June 6, Niedermark emphasized the critical need for Europe to secure its supply of vital resources.

Global demand and supply deficits

Niedermark highlighted the rising global demand for critical raw materials such as lithium, nickel, and cobalt, which are essential for the green energy transition. He warned of structural supply deficits for many critical metals needed worldwide, underscoring Europe’s heavy dependence on other regions for these resources. This reliance not only places Europe at a strategic disadvantage but also leads to higher costs for sourcing these materials.

Supported by

Dependence on China and the need for diversification

“Our dependence on many mineral raw materials from China is already greater than it was for crude oil and natural gas from Russia,” Niedermark noted. He stressed the importance of diversifying Europe’s sources of raw materials to prevent any single country from monopolizing the global supply market. “We must protect ourselves from being blackmailed. And we must regain more control over the material that forms the basis of our economy and [the functioning] of our societies. We must act ourselves, otherwise we will be acted upon,” he asserted.

Strategic diversification and circular economy

Niedermark called for a comprehensive diversification strategy that includes not only the diversification of imports but also the development of domestic mining and further processing of raw materials within Europe. He emphasized the necessity of establishing a circular economy to recycle and reuse these materials, reducing dependence on external sources and enhancing Europe’s material security.

By taking proactive measures to secure its supply of critical raw materials, Europe can reduce its vulnerability and ensure a stable foundation for its economy and societal functions in the face of growing global demand and geopolitical uncertainties.

Supported byElevatePR Digital

Related News

Rio Tinto Assures on 2500 Pages – There is a Solution for Every Danger

Rio Tinto executed a move announced six months ago – they published drafts of environmental impact studies on how harmful the lithium mine in...

Geopolitical struggle over Central Asia’s rare-earth reserves

Central Asia, encompassing Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, Uzbekistan, Afghanistan and Mongolia, holds vast untapped reserves of rare-earth minerals. Recent global developments have thrust these...

Guatemala revokes environmental license for Canadian-backed open-pit mine

The Guatemalan government has revoked the environmental license for a proposed open-pit mine near the border with El Salvador, citing multiple "anomalies," including forged...

Thailand’s $1.20 quadrillion mineral wealth: A catalyst for new industrial growth

Thailand is home to a treasure trove of mineral resources that could significantly boost its economy and spearhead the development of new industries. With...
Supported by
Supported by
Supported by
error: Content is protected !!