• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Germany invests $1.1bn to counter China on raw materials

2 years ago
in Business, Features, highlights, Home, home-news, latest News
2 min read
0 0
0
105
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

RelatedPosts

FirstBank Ghana Commits GHS 200,000 to Community Projects Under 2025 CR&S Week

African Development Bank President Ould Tah Tackles Financial Reform in Push for Development

OSP Invites DVLA CEO Over Alleged GHS 4m Bribery Attempt Linked to Digital Vehicle Plate Rollout

Germany invests $1.1bn to counter China on raw materials

The German government earmarked about €1 billion ($1.1 billion) for raw materials investments as it seeks to reduce dependency on producers such as China for critical minerals, according to people familiar with the plan.

A selection process will be established to determine which projects — including in extraction, processing and recycling materials — are eligible, the people said, speaking on condition of anonymity. Financing, via Germany’s state-owned KfW development bank, will consist of equity capital to make acquisitions of minority stakes.

Projects in Germany and abroad will “contribute to the security of supply of critical raw materials,” an Economy Ministry spokeswoman said. The ministry didn’t give details on how the state fund would be structured.

Pandemic-triggered supply-chain disruptions across the globe and Russia’s invasion of Ukraine exposed the vulnerability of Europe’s reliance on energy and raw materials for high-tech and green projects. Chancellor Olaf Scholz’s government pledged to ratchet up efforts to access to critical materials over the longer term.

Raw materials including cobalt, copper, lithium, silicon and rare earth metals are needed to make microchips, wind turbines and batteries for electric vehicles.

As Germany’s parliament approves Scholz’s 2024 budget on Friday, the billion-euro fund is to be set up for four years. Investments will be coordinated with Italian and French initiatives in the raw materials sector, the people said. Policymakers will focus on mineral projects defined as critical in the European Union’s Critical Raw Materials Act.

Veronika Grimm, a member of Scholz’s panel of independent economic advisers, said the aim of diversifying raw-material supplies must be a “top priority” for the EU as a whole.

“The raw-material fund can be an element, but it won’t be a enough,” Grimm told Bloomberg.

KfW declined to comment on the plans. The lender is expected to make a statement about its role managing the project at its annual news conference next week on Feb 7. The EU agreed on measures in November under the Critical Raw Materials Act to boost domestic mining and reduce dependency on any one country.

While Germany still has to set up a structure to organize its investments into raw materials, Japan could provide a model. Since 2004, the state-owned Japan Organization for Metals and Energy Security has invested in the storage of raw materials, explored reserves, provided loans or guarantees for commodity companies and bought their shares directly.

Tags: ChinaGermanyGermany invests $1.1bn to counter China on raw materialsraw materials
No Result
View All Result

Highlights

Standard Chartered Zambia Signs Agreement to Sell Wealth & Retail Banking Business to First National Bank Zambia

Vinicius Jr. Apologizes for Clásico Outburst, Leaves Out Coach Alonso

Rabat Set to Host African World Cup Playoffs Next Month

Commodity Prices to Hit Six-Year Low in 2026 as Oil Glut Expands

BudgIT Ghana Mourns the Passing of Her Excellency Nana Konadu Agyeman-Rawlings

Nvidia Nears Record $5 Trillion Valuation as AI Boom Powers Meteoric Rise

Trending

Business

FirstBank Ghana Commits GHS 200,000 to Community Projects Under 2025 CR&S Week

October 29, 2025

FirstBank Ghana Commits GHS 200,000 to Community Projects Under 2025 CR&S Week FirstBank Ghana has announced a...

African Development Bank President Ould Tah Tackles Financial Reform in Push for Development

October 29, 2025

OSP Invites DVLA CEO Over Alleged GHS 4m Bribery Attempt Linked to Digital Vehicle Plate Rollout

October 29, 2025

Standard Chartered Zambia Signs Agreement to Sell Wealth & Retail Banking Business to First National Bank Zambia

October 29, 2025

Vinicius Jr. Apologizes for Clásico Outburst, Leaves Out Coach Alonso

October 29, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.