Petr Pudil took part in a discussion at the GLOBSEC Forum
06/13/2025 -
Petr Pudil from BPD partners was one of the panelists in a debate on the severe shortage of strategic and critical raw materials, which took place in Prague as part of the 20th GLOBSEC Forum security conference. The discussion sought answers to questions such as how serious the shortage of critical raw materials is and which sectors face the greatest risks, what innovative strategies (ranging from recycling to new partnerships in the mining sector) can fill this gap, and how Europe, the US, and their allies can coordinate their policies to avoid supply shocks and strategic dependence.
Petr Pudil said he is optimistic and believes that Europe will realize the need to solve this problem. It is much more dependent on critical minerals than the US. But it is necessary to think strategically: We cannot expect to catch up with China in all lithium-based technologies; on the contrary, we must identify and develop new-generation technologies, such as sodium batteries, and carefully assess whether we can be competitive with China in the long term.
"Although the European Commission has identified some key projects, we will continue to face a critical situation in this area in the coming years. I would like to see some cooperation with the countries of the global south under the auspices of the European Union, which would direct capital and technology to these countries. Otherwise, we will always be in the position of consumers rather than someone who maintains a certain independence," said Petr Pudil. But, according to him, we must first define what this strategic autonomy means. It is not about being completely independent of China, but it must be clear that if developments are not favorable for us, we have a plan and, above all, the capabilities to achieve independence. However, this will not be possible without political incentives and risk-reducing mechanisms, because the market cannot behave like a government and act in the interests of society as a whole in relation to China. "At the same time, we should also focus on the demand side and motivate the market to reduce consumption of these rare raw materials, because we pay not only market costs but also political costs in the form of agreements with China in order to have access to these resources," concluded Petr Pudil.
