EU industry chief Stephane Sejourne has expressed an opinion that recycling is likely to be a solution to reducing dependency on critical raw materials imports from China.
The EU has set a target value for critical raw materials recycling to meet its demand at 25% by 2030, according to Reuters report. Less than 1% of rare earths in the EU are currently recycled.
Sejourne said that the EU should speed up its deal-making for critical raw materials instead of waiting for multi-year trade deals to be signed. Gaining permits for new projects also needs to be simplified after "too many projects were abandoned" in the past.
"Companies also need to re-evaluate their risk and stop buying 100% Chinese," Sejourne noted.
Theodor Lisovoy, Managing Editor, Rough&Polished
