EU Plans New Agency for Critical Minerals

The European Union is establishing a new central agency to manage its critical mineral supplies, aiming to prevent the U.S. from acquiring these essential resources. The EUs executive vice president for industrial strategy, Stéphane Séjourné, revealed this plan to the Financial Times. The agency will purchase, coordinate European acquisitions, build up reserves, and encourage companies to prioritize economic security in their supply chains. The EU acknowledges its lag in transforming its critical mineral supply chain and plans to sign supply contracts with countries like Brazil and South Africa. A proposal for a price floor is also on the table to secure crucial supplies for European industries.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.