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19/07/2024
Mining News

EU countries collaborate to secure investments in critical raw materials

Jack Lifton, Co-Chair of the Critical Minerals Institute (CMI), pointed out a critical deficiency in government strategy, asserting, “The government lacks subject matter expertise and relies solely on internal consultations and friendly academics for information. Practical experience is disregarded, sidelining those actively engaged in the field.” Lifton emphasized the fundamental role of exploration in the mining supply chain, contrasting it with the government’s focus on existing mines rather than initiating new ventures.

Peter Clausi, another CMI Board Member, echoed Lifton’s critique, noting, “Government investment in mining exploration has been notably conservative, with little to no significant funding directed towards exploration initiatives. While there’s enthusiasm for production and some support for development, exploration remains largely neglected. If governments truly aim to bolster battery manufacturing, statistics and logic necessitate increased investments in exploration.”

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Regarding concerns about competition among France, Germany, and Italy’s national funds, representatives unanimously dismissed the notion. Gallezot of France affirmed, “Mining is a vast sector with immense investment needs. Collaborative investment efforts are welcome and necessary to meet these demands.” Castronovo from Italy echoed this sentiment, stressing the importance of cooperation and alignment among the three nations. The combined efforts of France, Germany, and Italy to secure critical raw materials through substantial public and private investments underscore their strategic and collaborative approach. By prioritizing essential minerals across the entire value chain, these initiatives aim to position the EU as a leader in sustainable resource management and ensure competitive advantage in the global market.

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