FT News Briefing Brussels sprouts critical minerals plan
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Nov 19, 2025 
Join Alice Hancock, an FT reporter specializing in EU industrial policy, as she discusses the EU's ambitious plan to coordinate the purchase and stockpiling of critical minerals essential for clean energy and defense. She highlights the EU's dependence on China and the challenges ahead. Leslie Hook, FT Natural Resources Editor, dives into Elliott Management's significant investment in Barrick Mining, exploring market speculation about the company's future direction and potential breakup amid a strong gold sector.
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EU Racing To Reduce China Reliance
- The EU is rapidly moving to secure critical minerals because China dominates processing and refining, leaving the bloc exposed.
- The proposed centre would coordinate purchases, stockpiling, recycling funding and alternative technologies to reduce reliance on China.
2023 Targets Were Slowed By Red Tape
- The Critical Raw Materials Act from 2023 set targets but bureaucratic delays stalled domestic mining and processing.
- This new 'emergency plan' aims to kickstart measures that should have happened earlier to secure supplies.
Use Commission Power To Move Fast
- The European Commission can act quickly because this initiative is a Commission project and can bypass full member-state agreement.
- Sejournet will visit South Africa and Brazil to strike deals and sign memoranda to secure supply access for the EU.