EU launches €22.5 billion plan for 47 projects to boost raw material extraction, reducing reliance on China.

The EU unveiled 47 projects to boost the extraction of critical raw materials like lithium and cobalt, aiming to reduce dependence on China and enhance self-sufficiency. This initiative, worth €22.5 billion, targets meeting 10% of EU extraction, 40% of processing, and 25% of recycling needs by 2030, addressing vulnerabilities exposed by the pandemic and Ukraine conflict.