The European Union is struggling to reduce its heavy dependence on China and some global south countries for critical minerals and rare earths. These materials are vital for making smartphones, wind turbines, and military jets. A report from the European Court of Auditors (ECA) in Luxembourg says the EU’s 2030 targets are "out of reach" because production, refining, and recycling inside Europe are not progressing fast enough. ECA member Keit Pentus-Rosimannus said, "It is therefore vital for the EU to up its game and reduce its vulnerability in this area." The report highlights that mining and exploration in the EU are "underdeveloped." Even when new mineral deposits are found, it can take 20 years for a mining project to start. The report notes, "This makes any concrete contribution by the 2030 deadline hard to imagine." Meanwhile, UK Prime Minister Keir Starmer agreed with Japanese official Sanae Takaichi to speed up cooperation on critical minerals. In the US, Secretary of State Marco Rubio will hold a summit on Wednesday with about 20 countries to coordinate diversifying mineral supplies like lithium, nickel, cobalt, copper, and rare earth elements. China and Russia dominate the supply. China provides 97% of the EU’s magnesium, 71% of gallium, and 31% of tungsten. For rare earths, China controls up to 74% of key minerals like neodymium and praseodymium, essential for permanent magnets found in cars, fridges, and wind turbines. EU industry gets most of its permanent magnets from China. Other suppliers include Chile for lithium and Turkey, which provides 99% of the boron used in solar panels. The ECA warns that "many strategic projects will struggle to secure their supply of critical raw materials by 2030," and the EU "may be trapped in a vicious circle." Pentus-Rosimannus stressed, "Without critical raw materials, there will be no energy transition, no competitiveness, and no strategic autonomy. Unfortunately, we are now dangerously dependent on a handful of countries outside the EU." EU Industry Commissioner Stéphane Séjourné warned Europe risks being "just a playground for its competitors" without a strong industrial policy. The report also found that efforts to diversify imports have not yet shown results. Partnerships with seven countries with poor governance saw supply fall between 2020 and 2024. Of 26 critical minerals, 10 are fully imported, and none of the 17 rare earth metals are mined in the EU. Recycling is slow too, with only 16 critical raw materials being recycled in the bloc.