Brussels, 2nd February 2011:
Euromines welcomes the issuing of the new EU’s Communication on “Tackling the challenges in commodity markets and on raw materials”.
In particular the sector welcomes the acknowledgement of the importance of raw materials for the growth of the European economy.
“At the heart of current developments lies a series of changes in global supply and demand patters as well as short term shocks in key commodity and raw material markets. The years 2002 to 2008 were marked by a major surge in demand for raw materials, driven by strong economic growth, particularly in emerging countries such as China. This increase in demand will be reinforced by the further rapid industrialisation and urbanisation in countries such as China, India and Brazil. China is already the largest consumer of metals in the world – its share of copper consumption, for example, has risen from 12% to about 40% over the last 10 years. Prices movements have been exacerbated by various structural problems in the supply and distribution chains of different commodities.”
The extractive sector has been very supportive of the work conducted so far and welcomes the proposals made by the Commission in its Communication with regard to
The Europe 2020 Strategy underlines the need to promote technologies that increase investment in the EU’s natural assets. Extractive industries fall under this category, but its development is hindered by a heavy regulatory framework and competition with other land uses.
The Commission considers that the following practices are particularly important in promoting investments in extractive industries:
While significant progress has been made in implementing the RMI, further improvements are necessary. An integrated approach based on the three pillars is essential, as each contributes to the objective of ensuring a fair and sustainable supply of raw materials to the EU. The European extractive sector will continue to support the Commission’s initiative and is welcoming the Member States’ active involvement in tackling the challenges outlined.