Abstract

Raw materials are the physical basis of the economy. Global extraction and consumption of raw materials has increased significantly in both industrialised and emerging economies driven by economic growth and increasing material wealth. Primary sources of non-energy raw materials and specialty raw materials are rare within the European Union (EU) and its economy is highly dependent on imports. High import dependence and supply restrictions, as well as limited mining activities in Europe, have raised concerns amongst European industrial leaders, governments and the European Commission (EC) over the sufficiency of the supply of raw materials (CEO, 2011).