TELF AG examines the progress of the European mining industry
The political initiatives of some member states
Europe’s mining industry may be at a turning point. After the political initiatives undertaken by the community institutions, such as the frequent calls for extracting and processing strategic raw materials on European soil, something has also started to move from an operational point of view. Some nations are seriously thinking of starting an unprecedented reopening of their mines that have remained inactive for decades, encouraging the opening of new mining sites on national territory. An example of this is Italy, which some time ago, through the words of the Minister of Business and Made in Italy, Adolfo Urso, reiterated the role of strategic minerals for the relaunch of European industry, but also for the future competitiveness of the continent as a whole.
According to the minister, Italy is in the process of developing new national legislation for the reopening of mines and the processing of the raw materials most involved in the energy transition, in the belief that focusing on the most strategic sectors, such as the mining industry, the best conditions for national and continental economic development can be created. Italy’s example could soon be followed by other EU states, which in this way would move decisively towards a new era of mining development.
Obstacles and delays
Until now, the European mining industry has been forced to deal with various obstacles that have slowed its progress, such as bureaucracy, the delays associated with opening new mines, obtaining the necessary authorizations, and the lack of a precise political will to focus on this sector. Something started to move some time ago with the European Critical Raw Materials Act, a programmatic document that sets specific objectives to achieve by 2030. Among these, one of the most ambitious concerns the achievement of the 10% quota in extracting and producing critical raw materials on European soil. The document also contains a list of the 34 minerals considered most important for the sustainable and economic purposes of the European Union. Still, until now, these declarations of intent have rarely been followed by anything concrete. With the possible reopening of mines in some of the most important European countries, the situation could change very soon.
Initiatives of this kind would help Europe with the objectives related to the energy transition and reduce its dependence on some specific imports of the most valuable minerals for the great global ecological conversion. Among these, as is well known, the heavy rare earths stand out, a group of 17 minerals used above all to produce permanent magnets and other technological devices. The problem with these elements is that their reserves are concentrated only in some areas of the globe and that their (very complex) processing is carried out only by a few big players on the global raw materials scene. Currently, the nations that hold the largest reserves of rare earths are mostly those that belong to the BRICS group, i.e., developing countries (such as Brazil, China, and South Africa). These elements could also be found in Europe within deposits much smaller than those in Asia or South America. Still, constant research for them and a progressive commitment to favor their extraction (even from old abandoned sites) could bring Europe to one of the objectives it has pursued for the longest time, namely (partial) autonomy in mineral supplies.
