Moving towards European sovereignty in rare earth elements
Reading time: 1 min
The permanent magnets and motors used in many cutting-edge sectors (electronics, electrical engineering, mechanics, etc.) account for 20% of the volume and more than 70% of the value of the various applications of rare earth elements. However, European industry relies on Chinese imports for over 90% of its needs in the area. In order to reduce this dependence, Europe set up a European Raw Materials Alliance (ERMA) in 2020. The good news is that it has already identified 14 rare earth extraction and recycling projects in Europe, enough to cover 20% of European demand in the medium term.