Experts have sounded caution over whether the European Union’s goals can be achieved, given China's existing market dominance across many rare earth metal markets.New: You can now listen to articles.ZAWIERCIE, Poland: As the electric vehicle market continues to grow worldwide, demand for rare earth minerals needed to make EV batteries is rising in tandem.
As part of efforts to boost domestic supply, the European Union has set ambitious new targets – for 25 per cent of EU demand for rare earth minerals to come from recycling by 2030.In southern Poland, two companies have formed a joint venture to recycle EV batteries. The venture’s new multimillion-dollar metals-processing plant in the Polish town of Zawiercie has the capacity to recycle up to 12,000 tonnes of batteries annually, equivalent to about 28,000 EVs.
Dudzic told CNA: “Of course, it depends on the type of battery, but we can firmly assume that more than 90 per cent of the battery's mass waste is recovered here and turned into valuable raw materials for further production.” To boost independence within the bloc, the Critical Raw Materials Act - which came into force among member states in May - states that 10 per cent of rare earth minerals used in the EU must be mined domestically by 2030.
“What businesses want to see is a funding programme; a dedicated policy like a quota that requires new products on the market to have a composition mixed with recycled materials.”