Strengthening Europe's Raw Material Supply

The European Commission has taken a significant step towards securing the continent's raw material supply by selecting 47 projects across 13 EU countries, including Spain, France, Germany, and Sweden. With an expected capital investment of €22.5 billion, these projects aim to reduce the EU's reliance on external sources for critical raw materials.

Focus on Key Materials

The initiatives will focus on the extraction, processing, recycling, and substitution of essential materials such as lithium, cobalt, magnesium, and nickel. This move is part of the EU's Critical Raw Materials Act, which sets ambitious targets: meeting 10% of the bloc's extraction needs, 40% of its processing capacity, and 25% of its recycling by 2030.

Streamlined Permitting Process

To ensure the success of these projects, the EU has introduced streamlined permitting provisions. The permit-granting process will not exceed 27 months for extraction projects and 15 months for other projects, a significant reduction from the current 5 to 10 years. This change aims to provide predictability for project promoters while maintaining high environmental, social, and governance standards.