EU seeks greater self-sufficiency in critical raw materials, proposes export restrictions and new center – Recycling industry warns against closing markets

(For subscribers.) The EU wants to strengthen self-sufficiency in critical raw materials by establishing a new raw materials center and restricting the export of recycled materials. Finnish MEPs would consider Finland as a natural location for the center. The Finnish Recycling Industry Federation warns that export restrictions could weaken the profitability of recycling and investments in the sector. Europe has woken up to the need to strengthen its self-sufficiency in raw materials that are key to industry, defense and the green transition. Some decision-makers see the EU playing an even greater role in the future, not only as a regulator of critical raw materials, but also as an active market influencer. The EU could finance production and recycling, purchase raw materials and maintain stocks. In its report considering amending the Critical Raw Materials Act, the European Parliament proposes that a new Critical Raw Materials Center or Agency be established in Europe to coordinate raw material procurement, investments, market monitoring and security of supply. The center would finance mining, processing, recycling and the utilization of secondary raw materials with a fund of approximately two billion euros. According to the report, the center should also acquire and store critical raw materials in case of supply disruptions and crises. Parliament will discuss the report in its first reading next week (week 43). Raw materials center for Finland? Finnish MEPs interviewed by Uusiouutis consider increasing the circular economy and strengthening the European recycling industry to be in favor. Many...