 I would like now to turn to Christophe Marceau. Christophe is in a way the French official French voice for critical raw materials. He is the Deputy Director General and the Scientific Director of the French Geological Survey, BIGM. He is in charge of defining and implementing the overall scientific strategy of that body in different fields. And while he is deeply involved in those issues, for instance, he has been vital in launching Ofrémy, the French observatory in charge of monitoring the CRM value change. So another expert, but someone who really has the government position and who perhaps also is able to convey the one or the other message to the French government what could be extremely helpful. Si vous plaît, Christophe, c'est à vous. Thank you very much for your introduction. So it's my pleasure to be with you today and I'm going to try to invite to give you a few insights regarding the critical questions of the critical raw materials. So a lot have already been said regarding the scene of this issue, but I want just to maybe add a few things to what has already been mentioned. So first we mentioned a lot the need for the energy transition. For sure it's very important in particular to mitigate the global climate change, but we do not have to forget that we have also to handle at the same time the digital transition, which is also requiring a very large amount of critical raw materials, and for two-thirds of them they are the same as for the energy transition. So we may have a kind of trade-off to have between the two. And also the development of the emerging countries, which require a significant amount of critical raw materials for developing the infrastructure. So altogether it yields to a very significant increase of the demand and the number of you are huge and it's a real issue to assess whether we will be able to meet this demand. I just remind just a few figures. For instance, the volume of lithium that will be required by 2040 to develop the electric core is 40 times higher than what we are using today. It's 20 times higher for nickel, cobalt and graphite. It's 10 times higher for the aware of. So it's a very huge number in particular when you consider that in fact it requires that it's already been mentioned between 15 and 20 years to open new mines. Another point which is very important is a large number of these metals are not taken directly from the ground for themselves. They are byproducts from over metals, which means that in terms of dynamics of the markets, they are not directly related to the need, to the demand in fact. And it means that we have therefore some highly complex value chains and it's already a first challenge to be able to depict, describe, understand all of them. And also the value chains are very long. I mean with large number of transformation steps and many of them are dispersed in many countries and it's once again a factor of complexity that we need to be able to understand and to take into account. So it means that in this situation we have some long but also weak value chains which can be pertubated by any events that could occur and we had a large number of disruptions in the last years, whatever the size of the disruption. Maybe two points which is important to keep in mind. First, the critical raw materials are rather dispersed all over the world. So when it is mainly located in a single country, it's not because it's the only country where you find it. It's mainly because this country has been specialized in this domain, has been exploring a lot and has been exploiting this resource but for sure we may find it elsewhere even if it takes time. And second, we have also not to forget the key role of China which is not only anymore on the mining side but rather on the refining and transformation and for more than 10 elements right now they are really dominating the market. I mean they are more than 90% of the overall supply worldwide is coming from China. So it means that it's a very highly dependent to this country and also a high risk in case of perturbations and it can be very valuable elements like not only rare earth but also graphite, gallium, germanium, tungsten, magnesium so a large number of elements which are used in many usage. So what can we do in order to recover, I will say, part of our independence and sovereignty? So first we need to be able to understand quite well all these value chains. So it's a domain of the mineral intelligence. You mentioned in your introduction that we launched in France a dedicated observatory exactly one year ago. Similar structure exists in other countries and there is a need for increasing this work, for networking this type of activity and we are for instance collaborating very efficiently with the DRRA in Germany. Second, we need also to ensure an optimized use of the natural resource. We need to deal with to cope with the recycling activities with the secondary resources which is available in the urban mines. It's something quite important. It's also a very good way in order to develop some new extracting purification transformation industry but we all have to keep in mind it will never meet the demand because what you recycle right now is what has been produced 20 years ago roughly the amount of critical water was not the same at that time. The type of metals or critical raw materials was different so for sure it's very important but it will never meet all the demand we have. So therefore the only way is to open new mines. It has to be very clear and as you mentioned very efficiently if you want to be pro-energy transition you have to be pro-mine development in fact. Not only in the emerging countries but also in Europe in the developed countries we still have a lot of resources in the underground. It's not known and it's not exploited right now mainly for economic and social reasons I will be back on that later on so we need to develop some new responsible mining activities and it's a huge challenge. And last but not least because it's still not enough we'll have to secure supply from third countries with thanks to long-term contracts long-term strategic partnerships. So what's new in 2023 regarding these four lines? So I will say that there have been a very significant mobilisation of the government and the national government with the creation of several mineral intelligence agencies the development of investment funds and tools in many countries in France for instance a strong development of environmental, societal and governance criteria regulations in particular at the European level in order to ensure that new mines will be responsible mines environmental friendly. Development of ambitious policy and I have to mention the critical raw material act which is still under discussion at the European level and which is very ambitious regarding the rate of independence for the supply of critical raw materials coming either from primary resources or from recycling also the development of industrial partnerships with Europe, with the United States and so on which is the first steps in order to develop some long-term contracts but at the same time and it's also something new we had some restriction measures which have been taken by China regarding Germanium and gallium first in June graphite two weeks ago I'm quite sure the list is not finished so it means that we have to be prepared to a potential not disruption but at least reduction or quotas or production or exportation I would say rather of these minerals which are used in many applications from difference to medicines thanks to energy and so on and third points the number of new projects which arrives on the market is very limited and it's not at scale by comparison to what we need the main question of the discrepancy between the need of the future and what the market is going to be able to to supply is huge and is increasing and it's therefore posing the questions about how can we ensure the energy transition if we do not have the resource my feeling right now is that we are not able we are not going to be able to meet some highly political objectives which has been proposed and voted for instance 2035 obligation of full electrical car in Europe and from my perspective not sure we'll have the resources to do that at that year and it's not a question of stockpile of natural resources in the ground it's a question of how fast can you extract this resource to provide it to the market and be able to meet the demand so it's really a question of the dates at which we want to reach this target in state of the target by itself and it's something which is quite important with many repercussions many consequences in particular in terms of political policy development policymaking and also confidence in the global decision making process because I'm quite sure that at least at European level many of the citizens may react regarding the change in these strong objectives which has been put forward by the government another important message is also the fact that we need new minds it seems that it's very clear even in Europe, even in France so with the CRM Act there is some new exploration program which is developing right now it's very important but the main question beyond is how are we going to convince our citizens of the interest of building new minds potentially not far from their houses and it's a real question a real debate that needs to be open about what are the consequences of our way of life how can we assume the consequence of this way of life and we need to start from now a work in order to increase the acceptability of this new type of activity and it's for sure embed high ethical issues because otherwise it means that we are exporting in fact a detrimental effect of our way of life so as a conclusion I think based on the question you ask what's the main message from 2023 we have some very positive mobilization from the national government and which is really moving forward the topic is back to the forefront of the geopolitics and it's very important and you can see this for instance in France that in any of the official displacement for our presidents the topic of the critical raw material in debate but at the same time we still have this perspective of a strong discrepancy between the political trajectory that we try to meet and the effective industrial capabilities to produce the materials so it's for me a potential for a new crisis not only for the market of metals but also in terms of confidence in the policy making process thank you very much