EU agrees 'hotline' with China for rare earth imports

The European Union has set up a special communication channel with the Chinese authorities to ensure the smooth import of rare earths - key raw materials for the production of electric cars, turbines or magnets.

European Commissioner Maroš Šefčovič said Brussels had agreed with Beijing to prioritise requests from European firms. Since the introduction of Chinese export controls, around two thousand applications have been submitted by European companies and more than half have already been approved.

Šefčovič warned that complicated export processes could seriously jeopardise European production. Alongside the push for faster import approvals, Brussels is also investing in building its own capacity, including projects in Estonia.

The EU and China are also negotiating general export licences similar to those secured by the US. The statements were made during the GCC-EU forum in Kuwait.

(reuters, mja)