Eric Sylvers of The Wall Street Journal reports on Europe’s move to bolster its mining industry.
- China is the global leader of rare earth metal mining, but its supply chain is unethical and reliant on slave and child labor.
- To bolster mining in Europe, the EU has introduced a proposal that would speed up permitting timelines for rare earth mining.
- The United States, who is also looking to diversify away from China, should follow the EU’s lead and modernize permitting to reduce backlogs for all projects, including mining.
“The slow process of obtaining permits, in which companies can invest hundreds of millions of euros and years of effort only to have a mining project canceled, is one of the biggest drags on the industry, said Rolf Kuby, director general of Euromines, an industry lobby. He praised the EU Commission’s recent proposal to streamline the process.”
Read the full article here.
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