EU explores financing critical minerals sector
The European Union is exploring financing options to support mineral exploration in Namibia to secure critical raw materials for its climate and energy goals. Finland is playing a leading role in this initiative, aiming to leverage its mining technology expertise to foster sustainable development.
Why it matters
Highlights the strategic importance of critical minerals in the global energy transition and the evolving economic partnerships between the EU and African nations.
The European Union is considering options for financing mineral exploration in Namibia to support Europe’s need for critical raw materials, a Finnish delegation says.
The European Union (EU) launched its Global Gateway investment strategy in December 2021, with one of the focus sectors being climate and energy, which includes securing critical raw materials.
Finland’s ambassador to Global Gateway, Roy Eriksson, this week said the EU Commission is leaning heavily on Finland to develop projects that address critical raw materials.
“The Finnish mining sector covers the whole value chain. In EU terms, Finland is the leading technology provider when it comes to mining. So we are looking for possibilities to use Global Gateway as an instrument to find competitive funding for projects,” he said.
The goal of the EU initiative is supporting sustainable development that benefits both European businesses and partner countries like Namibia, Eriksson said.
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