The European Union launched a dedicated platform to procure critical minerals, enhancing regional purchasing power. This initiative is aimed at developing robust supply chains for rare earths and strategic minerals, lessening reliance on dominant producers like China.

The European Union on Monday launched ⁠the critical minerals ⁠section of its energy and materials ⁠procurement platform, which aims to give more power to regional buyers and cut dependence on dominant producer China by aggregating their purchases. The platform is part of the bloc’s RESourceEU strategy, announced in December ‌to develop its supply chains for rare earths and other strategic minerals needed for the energy transition and defence applications. China controls up to 90 per cent of...