The European Union has unveiled 47 strategic metals projects aimed at reducing dependence on foreign sources and securing the supply of critical raw materials. These projects are part of the EU’s broader strategy to enhance its resilience in the face of global supply chain disruptions and geopolitical tensions. The 47 initiatives, which span across various countries in the EU, focus on the extraction, processing, and recycling of metals essential for industries such as electronics, renewable energy, and electric vehicles. The EU is particularly keen on securing supplies of rare earth elements, lithium, and cobalt, which are vital for green technologies and the transition to a low-carbon economy. The push for greater self-sufficiency in strategic metals comes at a time when global supply chains are increasingly vulnerable to external pressures, including trade wars and environmental regulations. This initiative is expected to reduce Europe’s reliance on countries like China and promote sustainable mining practices.
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Union Minister Sonowal has assured that India is actively addressing supply chain vulnerabilities to secure crucial trade routes, particularly in the wake of ongoing global disruptions. The country is focusing on enhancing port infrastructure, improving logistics networks, and strengthening maritime capabilities to ensure smoother and more resilient trade flows. India's strategic location as a key player in global maritime trade has made it essential to safeguard its trade routes against any potential geopolitical tensions or disruptions. Sonowal emphasized that improving the resilience of supply chains is critical for India's economic growth, particularly for the movement of key commodities like oil, gas, and raw materials. The government’s plans to upgrade ports and expand transportation networks across the country aim to reduce dependency on foreign trade routes and ensure uninterrupted access to global markets. Strengthening these critical links will position India as a more robust player in international trade.
Explore the latest edition of Journal of Supply Chain Magazine and be part of the JOSC Daily News Bulletin.
Discover all our upcoming events and secure your tickets today.
Journal of Supply Chain is a Hansi Bakis Media brand.