Germany Puts Critical Raw Materials Fund into Practice

This aspect of the so-called Germany Fund is already having an effect six months on from the start of the initiative. That’s the conclusion of a report drawn up by the German Ministry for Economic Affairs and Energy, the Ministry of Finance and the country’s economic development bank, the KfW.

The KfW has paid out EUR 150 million to the Vulcan Energy company for the production of climate-neutral lithium. Meanwhile EUR 50 million has gone to Arafura Rare Earths for a project aimed at securing rare earths.

Plans have been drawn up to bolster the Germany Fund with an additional EUR 1.5 billion to support 15 further raw materials projects between now and 2030.

Finance Minister Lars Klingbeil said that the goal of all these measures was to ensure that “the best ideas are born in Germany and get big here.” He added, “In addition we’re investing in our security, resilience and independence with critical raw materials.”

Source: Süddeutsche Zeitung