Germany, France and Italy announced they will cooperate closely on the issue of purchasing raw materials at a time when Europe seeks to reduce its dependence on imports from other countries.
“Better diversifying the sources of our raw materials provides economic security,” German Economy Minister Robert Habeck said in a statement.
He added that EU member states will form a working group to discuss “extraction, processing and recycling of basic raw materials.”
“We must help our industries to access the raw materials they need to make the digital and ecological transition a success,” French Economy Minister Bruno Le Maire said in a statement.
Le Maire said at a press conference in Berlin alongside his German and Italian counterparts that the forum, which brought together the three largest economic powers in the European Union, will be used to exchange information on the level of dependence, the direction of their purchases, and the security of strategic stocks.
Last March, the European Commission put forward proposals to secure supplies of materials needed for production in key technological sectors such as batteries or solar panels, and these materials include lithium and nickel.
The proposal of the European Union will encourage the establishment of projects for mining and extraction of raw materials in Europe.
France has already set up a 500 million euro ($545 million) fund to invest in basic raw materials projects, while Rome has also set aside 1 billion euros for a similar scheme.
Habeck indicated the possibility of establishing a similar fund in Germany, despite “the lack of agreement yet” between his government on the idea.
Source: National Iraqi News Agency