The European Commission wants to boost output of its own raw materials needed for green energy. Its plans, which are still in their infancy, would lower regulatory barriers to mining and production of critical materials such as lithium, cobalt and graphite, needed for wind farms, solar panels and electric vehicles..
By 2030, EU demand for rare earth materials for wind turbines will increase fivefold, according to the commission, but global supply is only projected to double. Demand for lithium is likely to be almost 60 times as high as current consumption by 2050, according to the EU’s Joint Research Centre. The need for cobalt and graphite could be nearly 15 times higher.
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