EU lawmakers vote to create raw materials agency to cut reliance on China
The European Parliament voted to strengthen the Critical Raw Materials Act, backing a dedicated EU agency and a €2 billion fund intended to reduce dependence on foreign suppliers of minerals essential to the clean energy, defense and digital transitions. The amendments were adopted by 470 votes to 83 with 108 abstentions and include a conditional export-control clause allowing the Commission to restrict exports of permanent-magnet scrap and waste. They also make the Commission responsible for identifying large companies in strategic sectors whose use of critical raw materials triggers resilience obligations.
Why it matters: The vote places critical raw materials and supply-chain resilience at the centre of EU industrial policy, linking mineral sourcing to security and trade diversification away from China.