Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-03-08-Speech-2-754-000"

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"Madam President, for reasons of competitiveness, market players are predisposed towards investments which give a rapid return, or, in other words, investments in plants whose products reach consumers directly. Investments in prospecting for raw materials, particularly in mineral deposits, involve a long and expensive process with a long wait for returns. It is therefore only the largest investors which can afford them. They are mainly monopolists and can set their own conditions, as was the case with the rare earth elements. It has now turned out that Europe’s growth is limited due to a lack of lanthanides, in particular, samarium and neodymium, which are needed for the production of high-energy permanent magnets and which are used in wind energy and to power electric vehicles. It is time for the European Union to pay attention to the security of raw materials, in the same way as it pays attention to energy security. This relates not only to rare earth elements, but also to other rare raw materials and materials used as catalysts, for example, rhenium and the platinum metals, tungsten, molybdenum, lithium, selenium and so on. Thank you."@en1
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