By Mark Burton
Top metal producers called on the European Union to follow the White House’s lead in rolling out financial support to help the bloc keep control of raw materials critical to the green-energy transition.
Eurometaux — which represents major European producers including Glencore Plc, Boliden AB, and Aurubis AG — urged the EU to take inspiration from President Joe Biden’s Inflation Reduction Act, which includes billions of dollars of subsidies to spur domestic investment in electric vehicles and renewable energy.
EU leaders are set to meet in Brussels on next month to discuss a response to the controversial US act, with some pushing for a “made in Europe” approach to help bolster domestic companies. French President Emmanuel Macron called for an EU package amounting to 2% of its economic output to rival the $370 billion US plan.