EU Plans €10 Billion Australian Critical-Minerals Investment

The European Union is pursuing major investment in Australia’s critical minerals sector to diversify supply chains away from China, with proposed EU funding of up to €10 billion for critical raw materials. The bloc is interested in rare earths, gallium and antimony, and says investment could span the supply chain, including refining and processing. A free trade agreement is expected to remove the EU’s 5.5% tariff on critical minerals once signed and ratified, while talks on a financing memorandum with the European Investment Bank are nearing completion. Australia is also preparing to update its critical minerals strategy to emphasize domestic refining and processing.