EU and Morocco Sign Agreement for Phosphorus and Cobalt Supplies to European Industry

Summary: The European Union and Morocco have signed a strategic partnership agreement aimed at strengthening critical minerals supply chains. Morocco, with the world's largest phosphorus reserves and significant cobalt resources, is set to become a key partner for the EU.

As part of its efforts to diversify raw material sources, the European Commission and the Moroccan government have finalized a long-awaited strategic partnership pact. This agreement, based on the principles of sustainability and transparency, is designed to ensure long-term and stable supplies of critical minerals to the EU. Morocco, which controls more than 70% of the world's phosphorus reserves, is of strategic importance for European agriculture and the production of LFP (lithium iron phosphate) batteries. Furthermore, the country is a significant producer of cobalt, a key component for other battery types.

The agreement provides not only for guaranteed raw material supplies but also for joint investments of 2.5 billion eurosover the next five years to modernize Morocco's mining capacity, develop processing facilities, and build new infrastructure. According to the European Commissioner for the Internal Market, this partnership will help reduce the EU's dependency on phosphorus imports from Russia and China by 30% by 2030 and ensure more reliable access to cobalt. Experts note that this move is a prime example of how the EU is implementing its strategy to build resilient and responsible supply chains with trusted partners.