Is Italy the Next Leader in Europe for Critical Raw Materials?
The reopening of metal mines in Europe is an absolute priority for our industry and sovereignty.
Some metals are at the heart of the low-carbon revolution for states and companies. They are used in electric batteries, wind turbines, solar panels, and more. However, currently:
95% of global mining production is shared among China, the United States, Myanmar, Australia, and Thailand;
China accounts for 60% of global extraction and over 90% of the trade in refined products, which are essential for the energy transition;
The demand for rare metals will be 30 times higher than current levels by 2040. The need for lithium will increase 42-fold, graphite 25-fold, and cobalt 21-fold.
The criticality of rare earths is not just geological but also geopolitical. Companies dependent on rare earths are more subject to political and economic pressures from others countries.
Based on the Critical Raw Materials Act passed by the European Union in September 2023, it is imperative to move from observation to action by implementing a strategy to reduce our dependence by extracting necessary metals in Europe where possible.
Currently, 170 projects are underway. France itself wishes to reopen rare metal mines within the EU.
But Italy is likely one of the countries with the best mining potential in Europe. Andrea Ketoff, the general manager of Assorisorse, even says that Italy's subsoil is " wealthy, and we are not exploiting it."
Indeed, Italy is believed to have reserves of at least 15 of the 34 critical raw materials identified by the EU. It possesses the world's second-largest reserves of antimony and titanium in Tuscany and Liguria, which are essential elements for smartphones and solar panels. Piedmont is rich in cobalt, and Latium has lithium, necessary for electric batteries.
On June 20 2024, the Italian government adopted a decree simplifying procedures for obtaining mining, processing, or recycling permits, which must now be issued within 18 months following an approved application. Undoubtedly, Italy will soon be one of the essential countries in the battle for metals that all European countries face.
The Italian Environment Agency, ISPRA, is tasked with updating the national mineral map by May 2025, utilising satellites and drones to detect underground minerals.
To this end, let us move beyond caricatured debates that pollute energy and mining issues, understand the real stakes of the current battle for metals, and react. Italy, as it did 500 years ago, is once again a land of Renaissance—this time, a mining one.
