The US and the EU are in talks to merge a core area of their efforts to engage suppliers of critical minerals in resource-rich nations, seeking to streamline their push against China’s dominance in materials key for future technologies.
The aim is to combine the EU’s high-level policy approach with the US focus on specific projects, according to people familiar with the discussions.
Specifically, the move would merge the EU’s critical raw materials club concept with US President Joe Biden’s administration’s flagship Minerals Security Partnership. It comes after the EU delayed plans to launch its own program in Dubai last year at the COP 28 climate summit, the people said.
Photo: AFP
The new initiative, known broadly as a “minerals security partnership forum,” would align outreach efforts to buyers in developed countries and resource-rich nations to cooperate on projects and policies, the people said.
As part of their broader economic security strategies, Washington and Brussels are seeking to counter China’s domination of the supply chain for so-called critical minerals, a broad term that includes inputs for electrical vehicles and other green energy technologies.
Key to their combined efforts is working with resource-rich nations to develop standards on investment, trade, research and environmental issues that the US and EU see as an alternative to working with China.
The allies, who have identified more than a dozen potential projects, have taken on a daunting challenge. The lengthy and expensive process of developing mining or refining projects means Beijing’s dominance will likely continue for decades. US officials have conceded it is impossible to fully replace China.
US and EU officials aim to reach an agreement later this month and officially launch the project next month, according to one of the people. They will discuss the plan at the Munich Security Conference in Germany next week, a separate person said.
The EU and the US are discussing how to optimize their efforts in fostering international cooperation on critical raw materials, European Commission spokesperson Olof Gill said in a response to questions, adding that an important aspect of these talks is to find “the best synergies” between the EU’s critical raw materials club and other international activities.
A US State Department official, who asked not to be identified discussing internal matters, said the two sides believe separate outreach plans to resource-rich nations duplicated efforts and risked creating confusion. They also want to ensure alignment on the broader goal of reducing the West’s dependence on China for the production and processing of critical minerals, the official said.
The EU was already a part of the US-led minerals security partnership alongside Australia, Canada, Finland, France, Germany, India, Italy, Japan, South Korea, the UK and others, which aims to funnel foreign investment into the green energy sector.
The EU has signed its own minerals pacts with several countries, including the Democratic Republic of the Congo, which supplies about 70 percent of the world’s supply of cobalt, and Zambia.
purpose: Tesla’s CEO sought to meet senior Chinese officials to discuss the rollout of its ‘full self-driving’ software in China and approval to transfer data they had collected Tesla Inc CEO Elon Musk arrived in Beijing yesterday on an unannounced visit, where he is expected to meet senior officials to discuss the rollout of "full self-driving" (FSD) software and permission to transfer data overseas, according to a person with knowledge of the matter. Chinese state media reported that he met Premier Li Qiang (李強) in Beijing, during which Li told Musk that Tesla's development in China could be regarded as a successful example of US-China economic and trade cooperation. Musk confirmed his meeting with the premier yesterday with a post on social media platform X. "Honored to meet with Premier Li
Dutch brewing company Heineken NV on Friday announced an investment of NT$13.5 billion (US$414.62 million) over the next five years in Taiwan. The first multinational brewing company to operate in Taiwan, Heineken made the statement at a ceremony held at its brewery in Pingtung County. It also outlined its efforts to make the brewery “net zero” by 2030. Heineken has been in the Taiwanese market for 20 years, Heineken Taiwan managing director Jeff Wu (吳建甫) said. With strong support from local consumers, the Dutch brewery decided to transition from sales to manufacturing in the country, Wu said. Heineken assumed majority ownership and management rights
coverage expansion: The industrial PC maker has proposed to acquire 3.938 million Aures shares to strengthen its global smart retail presence Leading industrial PC maker Advantech Co (研華) plans to acquire Aures Technologies SA, a French company known for its point-of-sale (POS) and kiosk equipment, to expand its global coverage in smart retail products and services. Advantech proposed to acquire 3.938 million Aures shares from the French firm’s major shareholder and through a public tender offer at up to 6.7 euros per share, the PC maker said in a statement after announcing the deal at the Taiwan Stock Exchange late on Friday. The company aims to acquire up to 100 percent equity of Aures, a well-known brand in the western market with a
Microsoft Corp yesterday said that it would create Thailand’s first data center region to boost cloud and artificial intelligence (AI) infrastructure, promising AI training to more than 100,000 people to develop tech. Bangkok is a key economic player in Southeast Asia, but it has lagged behind Indonesia and Singapore when it comes to the tech industry. Thailand has an “incredible opportunity to build a digital-first, AI-powered future,” Microsoft chairman and chief executive officer Satya Nadella said at an event in Bangkok. Data center regions are physical locations that store computing infrastructure, allowing secure and reliable access to cloud platforms. The global embrace of AI