Germany Invests €1 Billion to Counter China on Raw Materials
- State-owned KfW development bank will manage investments
- Aim is to reduce dependencies and strengthen supply chains
Molten copper at a metals plant in Hamburg, Germany.
Photographer: Martin Leissl/Bloomberg
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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.