21.2 C
Belgrade
Supported byspot_img
spot_img

Mineral-rich African states to explore new markets after EU changes its buying rules

Member of Europium Groupspot_img
Supported byspot_img

The European Union, the world’s largest single market, has introduced new measures to reduce their “dependency” on mineral imports from outside the bloc.

The European Council adopted the Critical Raw Materials Act on June 30, a regulation that seeks to utilise the bloc’s Common Market and partnerships to “diversify critical raw material supply chains, which currently rely on imports from a handful of third countries.”

A spokesperson of the European Commission told The EastAfrican that the bloc has taken this route because of the lessons they have learnt from the recent supply-chain disruptions that significantly impacted their supply and consequently costs of products associated with the raw materials.

Supported by

“The urgency of such measures is made clear by the recent Covid-related supply disruptions, Russia’s war of aggression in Ukraine, disrupting, for example, nickel and titanium markets, and the Chinese export restrictions on gallium and germanium introduced last week,” the spokesperson said.

 

Source: The East Africa

Supported byElevatePR Digital

Related News

International Graphite Ltd advances key projects in Western Australia with Springdale drilling and Collie processing

International Graphite Ltd is making significant strides in advancing its graphite processing operations in Western Australia. The company is currently conducting a 10-hole diamond...

Uzbekistan’s bold move: Ambitious push to lead global rare earth mining

Uzbekistan's President Shavkat Mirziyoyev has underscored the importance of developing the country's rare-earth mining sector, positioning it as a top priority for his administration...

Saudi Arabia’s mining sector recognized globally for investment-friendly reforms

Saudi Arabia's mining sector has undergone remarkable reforms, earning recognition as the fastest-growing regulatory and investment-friendly environment worldwide over the past five years, according...

Wyloo Canada propels Canada’s EV industry with first low-carbon nickel processing facility

A mining corporation, led by Australian tycoon Andrew Forrest, plans to establish Canada's inaugural processing facility for low-carbon nickel, an essential component in electric...
Supported by
Supported by
Supported by
error: Content is protected !!