EGT’s European focus provides distinct benefits for executing its development strategy. Through the Critical Raw Materials Act, the EU has legislated to increase its own security of critical raw materials supply, specifically rare earths, graphite, copper and many others. The EU has set targets to mine at least 10% of its annual consumption of critical metals and minerals in Europe and to process at least 40% of its annual consumption. The EU is directly investing in companies involved in the green energy transition.
A market with excellent infrastructure
An expanding gigafactory establishment
Investing further in renewable technologies
A central player in EV car production and green economy investment
Legislating for more domestic critical raw material extraction and processing
“Rare earths will soon be more important than oil and gas. Our demand for rare earths alone will increase 5-fold by 2030…..we will identify strategic projects all along the supply chain, from extraction to refining, from processing to recycling. And we will build up strategic reserves where supply is at risk. This is why today I am announcing a European Critical Raw Materials Act.”
EU President von der Leyen, 2022
Sweden
Well-established jurisdiction with infrastructure for resource development
Strong support from Swedish Geological Survey with abundant data
Development services and engineering widely available e.g., drilling and labs
Democratic, stable jurisdiction and good fiscal code
Proximity to European battery and EV markets
Germany
Centre of European EV car manufacturers and gigafactory development
Very supportive government – Germany recently launched €212bn climate fund to support green economy projects
“Ore Mountains” / Erzgebirge is one of the great metallogenetic provinces of Europe
Major stream sediment sample database >3000 samples with 52 multi-element analysis
Many old mines / districts never been systematically tested in modern times
