European Commissioner Thierry Breton urged European financiers this week to provide more funding to suppliers of minerals needed for the energy transition, as the European Union prepares its Green Deal industrial plan.
The EU is due to unveil its Critical Raw Materials Act on March 8 to secure the bloc's supply of critical raw materials including lithium, cobalt, nickel, manganese and graphite needed for electric vehicles.
Russia has historically been a major supplier of aluminium, nickel, copper, cobalt and palladium to Europe. "Sometimes you faced challenges: here in Europe, because of local opposition, long procedures or lack of economic case; or in the rest of the world, where you may be accused of supporting projects with low environmental and social standards," he added, addressing the room at Brussels' Berlaymont hotel on Monday.
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