Brussels, 12 December 2024
Today, the Commission is hosting key meetings of the Minerals Security Partnership (MSP), which take place in Brussels as part of the 2024 Raw Materials Week.
Partners include Australia, Canada, Estonia, Finland, France, Germany, India, Italy, Japan, Norway, the Republic of Korea, Sweden, the United Kingdom, the United States, and the European Union, represented by the European Commission. The MSP is part of the EU’s multilateral efforts to correct market imbalances on global raw materials markets and promote mutually beneficial and sustainable industrial projects. The MSP allows these like-minded countries to share information on critical raw material developments in third countries, identify investment opportunities and co-invest in mining, refining and recycling projects that respect high environmental, social and governance standards. It aims to drive forward projects and policies that will support secure and sustainable access to critical raw materials, such as lithium, cobalt, nickel, manganese, graphite, rare earth elements, and copper.
In the morning, the MSP Principals’ meeting, organised by the Commission and co-chaired by the Republic of Korea and the United States, began with a focus on accelerating projects related to rare earths, which are essential components of the permanent magnets required for wind turbines or electric vehicles, and for which Europe holds very strong dependencies. Partners countries identified new opportunities for responsible mining, processing, and recycling of critical minerals among MSP Forum members.
This afternoon, the Forum of the Partnership, composed of the partners and selected mineral producing countries, is hosting a workshop, led by the European Commission, to address investment challenges and local value addition on the critical raw materials value chains.
In the coming months, MSP Forum members will share individual country presentations on specific projects with partners, the Finance Network of the Partnership, and in partnership with the Minerals Investment Network for Vital Energy Security and Transition (MINVEST).
The Forum will next meet in the margin of Mining Indaba in Cape Town, South Africa, on 4 February 2025.
Joint Statement on the High-Level Minerals Security Partnership Forum Events in Brussels
The Principals meeting, led by the Republic of Korea and the United States, convened government officials and private sector investors and focused on advancing and accelerating MSP projects on rare earth elements, including the HyProMag project in the UK and the newly registered Arafura Nolans Project in Australia, as well as identifying new responsible mining, processing, and recycling projects for critical minerals in MSP Forum member jurisdictions. The participants discussed the challenges to developing specific MSP projects and identified means to advance these projects. At the MSP Forum’s Project Group meeting, participants took note of the recent presentations from the governments and private sector of MSP Forum members Argentina and Greenland and appreciated the exchange on specific critical mineral projects and investment opportunities in their countries. MSP Forum members will continue to make individual country presentations on specific projects to MSP Partners and the MSP Finance Network over the next several weeks and months in partnership with the Minerals Investment Network for Vital Energy Security and Transition (MINVEST).
The workshop on local value addition, led by the European Commission, will be the first of a series of events that will take place as part of the Policy Dialogue component of the MSP Forum. The workshop consisted of three sessions on various topics, including investment challenges for investors in critical mineral value chains, government policies focused on local value addition, and examples of how to mobilize investments for local value addition.
The MSP looks forward to hosting MSP Forum members for the next MSP Forum event on the margins of Mining Indaba in Cape Town, South Africa on 4 February 2025.
Source – EU Commission
Closing speech by Commissioner Šefčovič at the 11th Annual High-Level Conference on Raw Materials
Brussels,
“Check against delivery”
Thank you, Karen [Oldhoven].
Good evening, dear Ministers, dear Members of Parliament, ladies and gentlemen.
Last week marked the start of the new political mandate in the European Commission. I am honoured to be tasked with serving as a Member of the College once again.
But even as we take on new tasks and collaborate with new colleagues, we must recognise that the European Union is still facing the same social, economic and geopolitical challenges that it was a week and a half ago.
I am very happy to close the 11th High-Level Conference of the 2024 Raw Materials Week.
Critical raw materials will remain a priority for the new Commission.
Right now, that means ensuring the smooth implementation of the Critical Raw Materials Act.
Six months ago, in my previous capacity overseeing the European Green Deal, I opened the first meeting of the European Critical Raw Materials Board, bringing together national governments to make the ambition of the Act a lasting reality.
That means creating a strong and effective framework for sharing raw materials intelligence, building up strategic stocks, accelerating permitting, and leveraging investment for raw materials projects.
We have already seen positive progress in this effort.
For example, the Commission has received 170 applications for Strategic Projects, of which 121 are from the EU and 49 from third countries.
Here I want to call on all of you to join forces and get these key projects off the ground.
Europe needs mines, refineries and recycling facilities to diversify the supplies of minerals needed to strengthen the competitiveness of our economy and our economic security. To ensure we have the building blocks we need for the clean and digital transitions.
And to boost Europe’s military and defence capabilities.
We also need these industrial projects to build-up our expertise on sustainable and innovative mining and processing.
As well as to create quality jobs and boost economic growth in regions of Europe undergoing profound industrial change, including post-coal regions.
At the same time, we must acknowledge that we cannot meet our needs domestically.
Indeed, in 2023 the EU imported critical raw materials worth some 46 billion euros.
We must seek to further diversify supplies by building mutually beneficial partnerships in support of global production.
Here we have also built strong foundations.
On a multilateral level, the Minerals Security Partnership Forum enables dialogue between resource-rich and consumer countries to address the global challenges of raw materials supply and local value addition.
It has a focus on advancing and accelerating individual projects.
And promoting policies that contribute to responsible, diverse, and resilient raw materials value chains which drive local added value.
Bilaterally, our Free Trade Agreements with Ukraine, Mexico, the United Kingdom, New Zealand and Chile contain a dedicated Energy and Raw Materials chapter.
Discussions are ongoing with other partner countries.
In addition, I was in Uruguay last week together with President von der Leyen to successfully conclude negotiations on the EU-Mercosur agreement.
This too will be instrumental in securing critical raw material supplies produced in a safe and sustainable manner.
For example, 82% of the EU’s supplies of nobium, used in alloys such as high-grade steel, and 16% of its tantalum, used for electrical components like capacitors, come from Brazil.
The lower EU tariffs on raw materials foreseen in the deal will boost imports from Mercosur countries, while strengthening the security, predictability and resilience of supply chains.
There will also be new opportunities for EU companies to invest in Mercosur countries in the development of local industries to process the minerals.
In addition, we will continue to build new Strategic Raw Materials Partnerships, whilst pushing forward with the implementation of the 14 which have been signed so far.
I was honoured to sign on behalf of the EU five of these partnerships, of which the last one – with Serbia earlier this year – will support the development of the local sustainable e-mobility industry and boost industrial cooperation between the two economies in the area of raw materials.
I can say the same about the partnerships that I have signed with Ukraine, Norway, Greenland, and Kazakhstan.
Making further progress on the partnerships is key, so I am pleased to see the roadmaps with Australia and the Democratic Republic of the Congo endorsed earlier today.
It is important to note, however, that what these agreements provide is a framework, enabling the creation of long-term, mutually beneficial partnerships with resource-rich countries.
It is now up to all actors in the raw materials sector to ensure we make the most these opportunities.
Therefore, as we move ahead with our raw materials diplomacy, we must keep a focus on developing concrete industrial projects.
Which will not only help the EU to diversify its supply chains.
But, also to enhance sustainability and bring added value in the production of raw materials in these third countries.
As a final point, looking ahead, we should also consider what new tools we could develop to further our ambitions on raw minerals.
To that end, as requested by President von der Leyen, I have started work on the Clean Trade and Investment Partnerships – so-called CTIPs – to promote new investment and trade flows.
This will be key to achieving our decarbonisation objectives while boosting our competitiveness and diversifying our supply chains.
On top of regulatory cooperation, I want the CTIPs to bring about concrete benefits on both sides.
EU investment can help our partner countries to develop clean domestic value chains and reinforce their economies.
While ensuring secure supplies of raw materials for our industry.
Ladies and gentlemen,
I want to end by thanking you for your support and cooperation over the past years.
And I want to assure you that critical raw materials will continue to be a vital part of my work on the EU’s trade agenda.
So, thank you all for being here today at this high-level conference.
I look forward to continuing our close cooperation in future.
Source – EU Commission