Thanks Ramirez.I refer to a similar article in German...

Thanks Ramirez.

I refer to a similar article in German Handelsblatt, some excerpt translated here:

https://www.handelsblatt.com/politik/deutschland/fonds-unabhaengigkeit-von-china-bund-beteiligt-sich-mit-einer-milliarde-euro-an-rohstoff-projekten/29507476.html


Berlin. The state development bank KfW will in future participate directly in raw materials projects. This was decided by the budget politicians of the "Ampel" (traffic light) in the adjustment meeting on Thursday evening."With this decision, the Budget Committee is strengthening Germany's economic security in times of geopolitical uncertainty," Green Householder Felix Banaszak told Handelsblatt. KfW is to provide around one billion in equity capital for strategic raw materials projects between 2024 and 2028.Raw materials policy has become a key issue for the German government due to the geopolitical turnaround. "In times of geopolitical uncertainty, strategically securing access to key raw materials is of central importance for an affordable transformation," explained Banaszak.Germany is highly dependent on China, particularly when it comes to raw materials for strategically important areas such as battery production. The People's Republic is by far the global market leader for most industrial metals.With the decision of the budget holders, the development bank now has one billion euros at its disposal to support projects in Germany and abroad that contribute to the security of raw material supplies and serve the extraction, processing and recycling of critical raw materials.

According to the Federation of German Industries (BDI), more than 90 percent of the so-called rare earths used in smartphones and notebooks, for example, come from China. Graphite, which is needed for batteries, also comes 90 percent from China.There is great concern that China will use this dependency as leverage in the event of a conflict - similar to what Russian President Vladimir Putin has done with natural gas.Enabling projects outside China with the fundThere are certainly alternative raw material deposits in other regions of the world. However, many of these deposits have not been developed because companies shy away from the financial risk. As long as China delivers, it is cheaper.Other countries have long since recognized the potential dangers. Together with private donors, France set up a two billion euro fund this year to support raw materials projects, with 500 million coming from the state coffers. Italy has also set up a fund worth one billion euros.In early summer, Habeck signed an agreement in Berlin with the French Minister of Economy and Finance Bruno Le Maire and the Italian Minister of Industry Adolfo Urso to work more closely together on raw materials projects. Habeck warned at the time that without a German fund, France and Italy would be able to tap into important new suppliers without Germany.At the same time, France and Italy are putting pressure on Germany to join them. In a confidential conversation, Le Maire is said to have made it clear to Habeck that he could not understand why Germany, as the EU's financially strongest state, was remaining inactive on this issue. This was reported by participants.The three states are likely to be decisive for the EU's goal of sourcing a maximum of 70 percent of its annual demand for a strategically important raw material from a single third country from 2030 onwards.The trio, which may then have three funds, could also become an important building block for the international raw materials circle under discussion, in which producing countries such as Australia or Canada join forces with the major purchasing regions such as the EU and the USA.