00:00European Commission President Ursula von der Leyen said the European Union is working on a strategy to end its reliance on China for its critical raw materials.
00:12The strategy comes in a response to China's decision to implement tighter restriction on rare earth exports.
00:18If you consider that over 90 percent, 9-0, of our consumption of rare earth magnets come from imports from China, you see the risks here for Europe and its most strategic industrial sectors.
00:36von der Leyen said the aim of the plan is to secure access to alternative sources of the minerals.
00:41These are key to EU industries such as automotive, defense, greentech and digital sectors.
00:48The plan, which is named Resource EU, will seek out cooperations with countries like Ukraine, Australia, Canada, Kazakhstan, Uzbekistan, Chile and Greenland.
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