LONDON : EU policymakers have launched a drive to restart domestic output of magnesium, used in aluminium and steel products, with at least three firms working on projects, according to documents and officials.
Russia was the world's fourth biggest magnesium producer last year, with an estimated 21,000 tonnes of output. Supplies from China fell late last year, igniting prices in Europe and focusing the EU on efforts to secure home-grown supplies. The document says the EU should aim to source 15 per cent of its magnesium needs domestically by 2030.
In October, European industry groups warned that plant shutdowns could hit millions of jobs if magnesium shortages persisted. There are now three potential European projects that could produce magnesium in the coming years, two in Romania and one is Bosnia, said Krzysztof Kubacki, an official with EIT Raw Materials.
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