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EU must reduce its rare earth reliance on China, says EU's Sejourne
Published by Global Banking & Finance Review®
Posted on June 4, 2025
1 min readLast updated: January 23, 2026
Global Banking & Finance Review®
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Published by Global Banking & Finance Review®
Posted on June 4, 2025
1 min readLast updated: January 23, 2026
The EU aims to lessen its rare earth dependence on China, as stated by Sejourne. China’s export curbs prompt a push for supply diversification.
BRUSSELS (Reuters) - The diversification of supply of raw materials is important to stay independent in the future, EU Commissioner for Industrial Strategy Stephane Sejourne said on Wednesday, adding that the EU should reduce its dependency on China regarding rare earth magnets.
"We must reduce our dependencies on all countries, particularly on a number of countries like China, on which we are more than 100% dependent (...) The export bans increase our will to diversify," Sejourne during a press conference.
China decided in April to impose export curbs on rare earth magnets until new licences are obtained, leaving diplomats, carmakers and other executives from Europe and elsewhere scrambling to secure meetings with Beijing officials and avert factory shutdowns.
China controls more than 90% of global processing capacity for the magnets, used in everything from vehicles and fighter jets to home appliances.
(Reporting by Yun Chee Foo, Writing by Charlotte Van Campenhout, Editing by Benoit Van Overstraeten)
He emphasized the importance of diversifying the supply of raw materials to maintain independence in the future.
The EU is over 100% dependent on China for certain materials, and recent export bans have heightened the urgency to diversify.
In April, China imposed export curbs on rare earth magnets, requiring new licenses for exports, which has left many in Europe scrambling for alternatives.
China controls more than 90% of the global processing capacity for rare earth magnets.
Rare earth magnets are used in various sectors, including vehicles, fighter jets, and home appliances.
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