Outokumpu highlights importance of European mineral self-sufficiency
Outokumpu Oyj emphasizes the significance of utilizing European raw materials, such as chrome, to bolster security of supply and support defense industries.
Steel company Outokumpu Oyj has underscored the crucial role of European mineral resources in enhancing continental security of supply and fortifying defense industries. The company argues that domestic production of critical minerals, including chrome, is essential for mitigating geopolitical risks and improving the resilience of supply chains.
According to Outokumpu, targets set by both the European Union and NATO necessitate a stronger focus on domestic mineral output. The EU's Critical Raw Materials Act (CRMA) aims for the bloc to produce 10% of its critical mineral needs by 2030. NATO has also identified a list of minerals vital for defense technology production.
Finland is positioned to play a key role in strengthening Europe's mineral self-sufficiency. Outokumpu's Kemi mine, the only chrome mine in the EU, produces oxidic chrome ore essential for stainless steel manufacturing. The company highlights the mine's responsible operational practices and circular economy initiatives.
Outokumpu also criticizes the EU's failure to classify chrome as a critical mineral, unlike the US and China. This oversight contributes to significant import dependency for Europe, with recycling alone insufficient to meet demand. The company asserts that its integrated value chain in the Kemi-Tornio region—from mine to smelter, steel production, and port—also strengthens Finland's own security of supply.