EU and Ukraine to sign preliminary deal for the supply of bauxite, lithium, titanium and strontium
The European Union and Ukraine will sign a memorandum of understanding on an industry-critical raw materials and batteries block as the 27-country block seeks to diversify metal supplies following the disruptions caused by the COVID-19 pandemic.
The move is part of the European Commission's Critical Raw Materials Action Plan, announced in September, to increase the supply of materials vital to sectors including aerospace, defense, electronics, automotive and renewables, as well as energy-intensive industries and the health sector .
Vice President of the European Commission Maros Sefcovic will sign a Memorandum of Understanding on Tuesday in Kiev, the EU head said in a statement.
“Ensuring a sustainable supply of raw materials is an important prerequisite for achieving the goals of the transition to green and digital technologies,” said Šefkovic. “Our strategic partnership will go a long way in making both Ukraine and Europe more resilient, especially as we strive to get ahead and become stronger in the wake of the current pandemic, which has taken a heavy toll on our economy and society,” he said in detail. deal.
Last year, the EU updated its list of essential raw materials to include bauxite, lithium, titanium and strontium. Currently, 98% of the supply of rare earths to the EU comes from China.
The EU estimates that it will need 18 times more lithium by 2030 and 60 times more by 2050 to power e-car batteries and store energy alone.