EU prepares to stockpile critical minerals in case of war: FT

The European Commission is preparing to boost emergency stockpiles of critical minerals amid heightened concern over supply chain disruptions caused by geopolitical conflicts, the Financial Times reported on Saturday.According to a draft EU document seen by FT, the measure presents a safeguard for the 27-nation bloc in “an increasingly complex and deteriorating risk landscape marked by rising geopolitical tensions.” These include conflict, climate change and cyber threats, the document shows.In response, the Commission is advising member states to accelerate work on stockpiling commodities such as rare earth minerals and permanent magnets, which are crucial for energy and defence systems, as well as key items such as cable repair modules. According to an EU executive, nations should also co-ordinate backup supplies of food, medicines and even nuclear fuel.The EU document, which is scheduled for publication next week, cites an ‘‘increased activity from hacktivists, cybercriminals and state-sponsored groups” as the main driver of this high-risk environment, pointing to the potential sabotage of its underwater communication systems and gas pipelines in recent years.There is “limited common understanding of which essential goods are needed for crisis preparedness against the backdrop of a rapidly evolving risk landscape,” the document adds.The initiative marks a shift in Brussels’s approach to strategic resource resilience, targeting vulnerabilities exposed by war in eastern Europe. Last month, the German chief of defence warned that Russia could attack an EU member state within the next four years, Financial Times said in its report.In March, the European Commission unveiled its EU Preparedness Union Strategy, urging member states to build up their supply of critical equipment and encouraging citizens to keep at least 72 hours’ worth of essential supplies in case of emergencies.Weiter zum vollständigen Artikel bei Mining.com Weiter zum vollständigen Artikel bei Mining.com