This policy report by the Andalus Committee’s Madrid Office examines how the European Union can strengthen strategic cooperation with Latin America on rare earth minerals and critical raw materials to build resilient, sustainable supply chains and reduce dependence on China. Drawing on policy frameworks such as the Critical Raw Materials Act and the EU–Mercosur Association Agreement, as well as emerging projects led by companies like Serra Verde Group and Aclara Resources, the report analyzes how Latin America’s significant reserves—around 18% of global rare earth deposits—could underpin a more diversified and responsible energy transition. It argues that Spain, given its historical ties and diplomatic positioning between Europe and Latin America, can act as a key broker in building an EU–LAC partnership grounded in multilateralism, sustainable mining practices, and balanced industrial development. By positioning Spain as a strategic intermediary, the report outlines how deeper EU–Latin America cooperation could generate mutual economic benefits, strengthen value chains, and support a more equitable and resilient global energy transition.