EU struggles to increase domestic rare earth production amidst China's 90% global market dominance.

The EU faces difficulties in increasing domestic rare earth production, as China dominates the global market with 90% of processed rare earths and magnets. Rare earth minerals, vital for EVs and wind turbines, are abundant but hard to find in economically viable deposits. The complex process to convert them into magnets involves multiple steps, including extraction, processing, and separating individual rare earths.

June 27, 2024
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