The European Commission has designated 47 Strategic Projects aimed at ensuring a stable domestic supply of raw materials, in accordance with the Critical Raw Materials Act (CRMA).
These projects span across 13 EU member states and encompass 14 of the 17 strategic raw materials listed in the CRMA. Among the key materials covered are lithium, nickel, cobalt, manganese, and graphite, which play a crucial role in the EU’s battery raw material value chain. Additionally, one project focuses on magnesium, while three others involve tungsten, which is essential for strengthening the EU’s defense sector.
Major Investment Across EU Member States
The selected projects require an estimated total investment of EUR 22.5 billion (USD 24.4 billion) to become fully operational. They are distributed across Belgium, France, Italy, Germany, Spain, Estonia, Czechia, Greece, Sweden, Finland, Portugal, Poland, and Romania.
Being recognized as a Strategic Project ensures support from the European Commission, member states, and financial institutions, alongside streamlined permitting processes to accelerate development.
A Landmark Step Toward European Sovereignty
Stephane Séjourné, Executive Vice-President for Prosperity and Industrial Strategy, emphasized the critical role of raw materials in Europe’s decarbonization efforts. Currently, the EU is heavily reliant on third countries for many essential raw materials.
“For the first time, these 47 strategic projects will help us secure our own domestic supply of raw materials. This marks a major step toward strengthening European sovereignty as an industrial powerhouse,” Séjourné stated.
CRMA Targets and Future Developments
The CRMA establishes ambitious targets for raw material supply by 2030:
– 10% of the EU’s demand should be met through domestic extraction
– 40% should come from processing within Europe
– 25% should be covered through recycling efforts
The act officially took effect on May 23, 2024, coinciding with the launch of the first call for Strategic Project applications. Another round of applications is scheduled for late summer.
The European Commission has also received project applications from third countries, though decisions regarding their selection will be made at a later stage.
(Exchange rate: EUR 1 = USD 1.082)
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