The European Commission has unveiled its new Competitiveness Compass, a strategic plan aimed at boosting the EU’s economic strength and innovation capacity. In a statement, European Commission President Ursula von der Leyen highlighted the need to address Europe’s vulnerabilities and reduce dependencies on external suppliers for critical resources.
A key aspect of the plan involves reviving Europe’s mining industry to secure supplies of critical raw materials. Von der Leyen stated, “To reduce our dependency on China and other countries for rare earths and raw materials, we want more of these resources to be mined in Europe.”
The Commission plans to facilitate the issuance of permits for mining projects, with Vice-President Stéphane Séjourné revealing that 170 mining exploitation or research projects have already been proposed. This move aims to diversify the EU’s supply chains for essential materials needed in green technologies, semiconductors, and other strategic sectors.
The Competitiveness Compass also outlines the creation of a platform for the “joint purchase” of critical raw materials and the development of international partnerships to strengthen supply lines for green technologies.
Environmental concerns are being balanced with economic imperatives, as the EU seeks to maintain its commitment to sustainability while boosting its industrial competitiveness. The plan includes measures to support industrial decarbonization and promote the development of low-carbon products.
This renewed focus on domestic mining represents a significant shift in EU industrial policy, reflecting the bloc’s ambition to achieve greater strategic autonomy in key economic sectors while navigating the challenges of the green transition.
