Three of Europe’s leading economies – Germany, France, and Italy – have detailed their critical minerals investment plans worth €2.5bn.
Speaking at this year’s edition of the Raw Materials Summit in Brussels, representatives from the three leading nations presented their critical minerals public funds and discussed how they plan to galvanise investment in the sector.
Combined, the countries will deploy around €2.5bn of public funding, which they are aiming to bolster significantly by attracting private investment.
All three nations plan for the capital to be available by the summer and will focus on investing in domestic mining, processing, and recycling operations to secure stable supply chains for critical raw materials.
The country’s investment plans will cover over 30 critical minerals outlined in the EU’s Critical Raw Materials Act (CRMA), with a special focus on lithium, copper, and rare earth elements.
Germany’s critical minerals plans
Germany’s representative, Jan Klasen, director of the KfW Development Bank, explained that Germany will invest €1bn into critical raw materials, which will be managed by KfW.
Klasen explained that the German Government will take a minor stake in invested projects and will aim to cultivate additional funding.
Germany also plans to establish a raw materials committee that will spearhead the approval of raw materials projects.
France to invest €500m
France’s plans to fund €500m to the country’s national minerals fund was announced by Benjamin Gallezot, an official within the French prime minister’s office.
Additionally, the privately-run Infravia Capital Partners will be tasked with generating additional funding, with France hoping to raise €2bn in total.
These investments will be used to advance the entire value chain for critical raw materials in France.
Italy announces €1bn funding
The Italian Government introduced the ‘Made in Italy’ fund last December, which will see an investment into critical minerals of €1bn.
At the Summit, Alberto Castronovo from the Ministry of Enterprises and Made in Italy, explained how Italy expects an additional €1bn in private investment.
