5 Hrs
Source:
Sky News
Europe’s $1.5T Cost
The article warns that disruptions to rare-earth supplies could cost Europe up to $1.5 trillion, given its dependence on China, which accounts for around 60% of global mine production of these metals and more than 90% of their processing and refining. Europe—particularly the Nordic countries—is seeking to build a domestic supply chain encompassing mining, processing and recycling. Strategic projects are estimated to require more than €43 billion in investment, while the EU has allocated €3 billion to support them. The aim is to reduce dependence on foreign suppliers and secure supplies for critical industries, not to achieve complete self-sufficiency.
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