EU approves 47 strategic projects to secure critical raw materials

The European Commission announced a comprehensive initiative focused on strengthening the EU's supply of critical raw materials by supporting 47 strategic projects across 13 member states. This decision is part of a broader effort to reduce dependence on imports, especially from countries like China, and to fortify the European raw materials value chain. The identified projects cover a range of essential materials, including lithium, cobalt, nickel, and tungsten, which are vital for the automotive industry and the production of electric batteries. The overall investment required for launching these projects is projected to be around 22 billion euros. The initiative is timely as European nations seek to navigate ongoing geopolitical challenges and the pressing need for sustainability in industrial practices. Vice President of Industrial Strategy, Stéphane Séjourné, emphasized the importance of domestic production of these materials for achieving decarbonization goals and ensuring the EU’s independent supply chains. The commission aims to ensure that, by 2030, a significant percentage of such materials — 10% for extraction, 40% for processing, and 25% for recycling — will come from within the EU itself. By addressing this issue now, the EU aims to build a resilient supply chain that does not replicate past dependencies on foreign energy sources. Among the 47 approved projects, seven are specifically located in Spain, focusing on mineral extraction, primarily aimed at lithium and tungsten. For example, notable projects include the Las Navas mining project in Extremadura and the Aguablanca mine, which targets multiple metals, including cobalt and nickel. Another initiative, the CirCular project based in Andalusia, aims to improve copper, nickel, and platinum metal recycling, highlighting the EU's commitment to not only sourcing materials but also enhancing recycling capabilities. This well-rounded strategy aims for a sustainable future in the EU’s raw materials sector. The legislative framework established through the Critical Raw Materials Act (CRMA) is crucial for ensuring the swift execution of these projects. The act streamlines licensing processes, setting a maximum timeframe of 27 months for mining projects and 15 months for others, significantly reducing previous timelines which often extended five to ten years. This initiative reflects a milestone for European sovereignty within the industrial domain, enabling the EU to regain control over its raw material resources while also addressing environmental, social, and governance issues in mining activities. In summary, through these strategic projects, the European Commission aims to build a sustainable future, minimize reliance on external suppliers, and meet ambitious environmental targets by 2030.