The EU risks falling further behind the US in the race to secure critical minerals, as Western nations seek to counter Chinese dominance in essential components for defence and green technology. European officials and industry leaders warn that Brussels is moving too slowly compared to Washington’s aggressive strategy. Since 2022, the US has announced about $40bn in provisional funding for mineral projects and taken equity stakes in domestic miners. In contrast, the EU and its member states have committed roughly €6bn this year, though industry experts caution this pace is insufficient to kick-start the sector.

American companies have benefited from faster permitting rules and heavy government lobbying, including tenders in countries like Australia and Canada. The Pentagon recently made a $400mn equity investment in a rare earths producer alongside a $150mn loan, while securing long-term pricing agreements. Conversely, European firms face bureaucratic delays and hesitation. “I really admire the Americans because they take an idea and they run with it, while we Europeans hesitate, over-administrate, talk and lose time,” said the chief executive of EIT Raw Materials.

Brussels aims to build supply chains bypassing Beijing via partnerships with like-minded allies, yet scepticism remains regarding Washington’s unpredictable trade approach under the Trump administration. To avoid becoming dependent on foreign suppliers, the EU must accelerate project approvals, utilize financial tools, and secure offtake agreements ahead of its autumn strategy rollout.