The EU has announced a €3 billion strategy, supported by the European Investment Bank, to secure critical minerals and oversee new industrial projects as part of broader ReSourceEU efforts to reduce dependency on China.The strategy includes the creation of a European Critical Raw Materials Center and targets for manufacturing essential components within Europe, aiming to boost raw material autonomy and limit reliance on a single country to no more than 65%.CEO
Rahim Suleman of
Neo Performance Materials emphasized supply chain diversification as the region ramps up rare earth magnet production in
Estonia, while European Commission President
Ursula von der Leyen stressed the importance of resilient supply chains amid global risks.