Securing raw materials at the highest level: From the mine shaft to the Chancellor’s Office
In the deepest tunnels and highest offices, we are committed to securing the supply of critical raw materials such as dysprosium oxide for German industry. Last year, we inspected the rare earth-bearing monazite ore from “our” South African mine at a depth of approximately 150 meters. As exclusive guests at the Federal Chancellery yesterday (September 19, 2024), we had the opportunity to report on this in detail.
From now on, €1 billion for raw materials projects
We would be delighted if there were a connection between our visit to the Chancellor’s Office and the long-awaited launch of the raw materials fund. Unfortunately, it was merely a coincidence—albeit one that will certainly benefit our mission. The government has now made €1 billion available for raw materials projects at home and abroad. Since the fund was announced in April 2023, 30 companies have already presented their projects at the Federal Chancellery. One of them is the Steenkampskraal monazite mine in South Africa, which we discovered and whose ore contains the four rare earths most important for magnet production.
Political interest in the Steenkampskraal mine is growing
Accordingly, the attention we received during our visit to the Federal Chancellery was considerable. A ministerial official welcomed us and was already well informed about the Steenkampskraal mine. We had a very productive exchange and were able to establish many new contacts that will help us carry our message further into the political arena.
Bold measures against deindustrialisation are expressly desired
Only if Europe builds its own supply chains for rare earths such as terbium oxide can it become less dependent on China. According to a study by the German Economic Institute (IW), the number of German shareholdings in foreign mining companies has fallen over the past decade from 99 to 22. The right path leads in the opposite direction. Just last week, the BDI called for “bold measures” against the looming deindustrialisation of the Federal Republic and pointed to the importance of securing raw materials. And that is precisely where we come in—now increasingly with political support as well.