Rare earth elements are a group of 17 speciality metals used in high-tech products such as smart phones or wind turbines. Due to the lack of internal supply, the EU needs to import more than 90% of these metals, mainly from China. As the demand for rare earths is expected to grow, the EU aims to improve access to these metals, reduce their consumption and improve extraction conditions in Europe. To help secure the supply, the European Rare Earths Competency Network (ERECON) was established. To address the issue of rare earth elements supply, the EC has brought together experts to form a European Rare Earths Competency Network.
The three Working Groups of ERECON were focused on: 1. opportunities and road blocks for primary supply of rare earths in Europe, 2. European rare earths resource efficiency and recycling, and 3. European end-user industries and rare earths supply trends and challenges. The main objectives of the knowledge base are - 1. Data - the EURMKB will provide EU level data and information on raw materials from different sources in a harmonized and standardized way, 2. New activities - it will encourage activities in the raw materials sector such as exploration, extraction, processing, and recycling, as well as trade, development, skills, and education, and 3. Increased supply - the base will increase the supply of raw materials, as well as strengthen the European position on the forefront of the raw-materials sector.
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