REE and The Green Transition
Rare Earth Elements (REE) are essential raw materials for The European Green Deal, and the European Commission has defined rare earths to have the highest supply risk of all critical raw materials. Currently, Europe is totally dependent on imports of REE.
The ongoing transition towards a green and digital economy would drastically increase the need for sustainable supply of rare earth elements, and especially those essential to produce permanent magnets. Due to the green transition, the European Commission expects that the demand for rare earths used in permanent magnets could increase tenfold by 2050. This will require significant ramp up of new sourcing, in addition to improved recycling.
In 2020 The European Commission published an Action Plan on Critical Raw Materials, and established the European Raw Materials Alliance (ERMA) with “focus on the most pressing needs, which is to increase EU resilience in the rare earths and magnets value chain, as this is vital to most EU industrial ecosystems”. Read more about ERMA here
The Green Deal announced in 2020
President i EU Ursula von der Leyen announced The Green Deal, see video:
See video about critical minerals by EU Commissioner of Internal Market (EU) Thierry Breton: