German authorities planned to create a fund that would reduce reliance on fuel from Russia and China to finance mining. In this respect informs German television channel N-TV.
The report stated that the country’s government has developed a large-scale plan called “Energy Conversion”, whose aim is to completely eliminate the use of nuclear energy and switch to renewable energy sources. Therefore, the creation of a fund to finance the extraction of minerals will allow Germany to reduce its dependence on foreign sources and strengthen its economy.
According to the channel, the fund will finance mining not only in Germany but also in other countries. Therefore, this project is positive not only in terms of strengthening energy independence, but also in terms of creating many jobs.
N-TV added that the new mechanism could be operational as early as 2024. In addition, this project will help Germany achieve climate neutrality and become a leader in this field in the future. Therefore, the creation of the fund is one of the main projects for the development of the country’s economy.
Stock Exchange Agenda March 23 issue WroteThat Russia continues to supply coal to Europe despite sanctions, and by the end of 2022 the Russian Federation has become Germany’s largest supplier.