Dealing with our Critical Raw Materials dependency – A Strategic Moment for UK and Europe
Andrew Gomarsall discusses measures to encourage bio-based refining and address a key issue in economic security.
The UK and Europe are at a strategic turning point, as reliance on external suppliers can lead to fragile industries due to potential supply manipulation or price inflation.
The more we continue to rely on external suppliers who can weaponise supply or inflate prices, the more fragile our industries will become.
A recent report by the EU Institute for Security Studies (EUISS) highlights China's increasing control over supply chains, export restrictions, and price wars, particularly for critical metals such as rare earths, permanent magnets, gallium, and graphite.
- Rare earths
- Permanent magnets
- Gallium
- Graphite
Author's summary: Europe faces a strategic moment in addressing raw materials dependency.