The Importance of Critical Raw Materials in Green and Digitized Technologies: Ensuring Access and Avoiding Dependence

Throughout human history, raw materials have played a vital role in economic development, international relations, and the fate of entire nations and civilizations. From precious metals (silver and gold) and agricultural commodities (sugar, rubber, silk and spices) to energy resources such as oil and gas, changes in demand driven by technological advances have transformed global trade patterns, changed the course of world development and often contributed to conflicts and exploitation.

In the 2020s, we are becoming increasingly dependent on critical raw materials, including rare earth elements and metals such as lithium, gallium and germanium. The use of these raw materials in a wide variety of industries, from solar panels, batteries and wind turbines to computer chips in the industrial and defense sectors, makes them crucial in the transition to green and digitized technologies, which in turn will determine our future on this planet.

Europe will never be able to meet its demand for rare earth elements or lithium domestically, but that should not be its goal. Rather, the goal is to ensure access to critical raw materials so that we do not end up at the mercy of those who might use them as weapons – as the Kremlin has done with hydrocarbons.

2023-09-21 21:02:00
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