NEW YORK, November 21. /TASS/. The European Union plans to invest in Australian miners to access rare earth metals in competition with China and the United States. European Trade Commissioner Maros Sefcovic told Bloomberg.
As Sefcovic noted, European investments could include the acquisition of shares in Australian companies, the signing of agreements by individual EU national governments on the supply of raw materials or the joint financing of rare earth mining projects. The European Investment Bank could serve as one of the sources of investment in the mining sector of the Australian economy.
Šefčović previously met with Australian Minister for Trade and Tourism Don Farrell and Minister for Natural Resources and Minister for Northern Australia Madeleine King to discuss the supply of Australian minerals to EU countries. “We are talking about everything – from mining, refining and processing to the use of critical minerals,” said the European Commissioner, who is on a visit to Australia.
Bloomberg notes that China is currently one of the leaders in the market for rare earth metals, which are in demand in the defense industry and semiconductor manufacturing. Not to be outdone by China, the US signed an agreement with Australia in October 2025 to invest in Australian mining companies. As the Financial Times previously wrote, the EU plans to establish an agency to coordinate the purchase and storage of critical minerals to prevent all mineral resources from falling under the control of the United States and China.
Previously, the New York Times reported that EU countries' dependence on rare earth metal supplies from China has jeopardized their military rearmament plans.
