European industry lacks access to necessary raw materials and to the industrial and scientific know-how required to process them, although both are necessary to increase the competitiveness of European industry. Rare earth elements (REEs) are of critical importance for hundreds of high-tech applications, and the key to the development of green technologies. Currently, EU industry entirely depends on REE imports from China, which has the global production monopoly.
Does the EU have a comprehensive strategy on REEs? Does the strategy cater for a possible rise in prices as a result of Chinese export restrictions? Has the critical nature of REE supplies for European industry been assessed?
In the Commission’s opinion, what role could recycling play in view of the opportunities provided by trade policy and the availability of own resources?
Does the Commission have the means at its disposal to assess the costs of the recycling policy for European industry?