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Europe Looks to Sure Up Future Rare Earth Supply

In a bid to reduce dependency on China’s uncertain rare earth minerals supply the European Commission is developing a strategy to help member nations.

Part of this is a move to recycle and stockpile rare earth elements or REEs in a manner which acts as a buffer against potential shortages and higher prices in coming years.

The European Union wants the industries to play a greater role in assisting African nations in the extraction of these rare earth elements as well. These minerals are essential in the production of a number of the European Union’s exports, most notably cars and electronic gadgets.

Lawmakers hope that recycling could provide the European community the impetus it needs in handling the conservation of rare earth minerals. A German member of the European Parliament Reinhard Butikofer said that protecting supplies of scarce raw materials would at best be a temporary answer to the problem.

A commission has been looking into the options available with the European Union on rare earth minerals. According to draft strategy papers from the commission at the heart of current development lies a series of changes in global supply and demand patterns as well as short-term shocks in key commodity and raw material markets.

Joel Scanlon

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Joel Scanlon

Joel relocated to Australia in 1995 from the United Kingdom and spent five years working in the mining industry as an exploration geotechnician. His role involved utilizing GIS mapping and CAD software. Upon transitioning to the North Coast of NSW, Australia, Joel embarked on a career as a graphic designer at a well-known consultancy firm. Subsequently, he established a successful web services business catering to companies across the eastern seaboard of Australia. It was during this time that he conceived and launched News-Medical.Net. Joel has been an integral part of AZoNetwork since its inception in 2000. Joel possesses a keen interest in exploring the boundaries of technology, comprehending its potential impact on society, and actively engaging with AI-driven solutions and advancements.

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