EU's Strategic Move to Reduce Dependency on External Raw Materials

The European Commission has unveiled a bold initiative, selecting 47 projects across 13 EU countries, including Spain, France, Germany, and Sweden, to fortify the continent's supply of critical raw materials. With an anticipated capital investment of €22.5 billion, these projects are a cornerstone of the EU's strategy to achieve self-sufficiency in essential resources.

Focus on Key Materials and Sustainable Practices

Spanning extraction, processing, recycling, and substitution, the projects target vital materials such as lithium, cobalt, magnesium, and nickel. Aligned with the EU's Critical Raw Materials Act, the initiative ambitiously aims to meet 10% of the bloc's extraction needs, 40% of its processing capacity, and 25% of its recycling demands by 2030.

Streamlined Permitting for Faster Implementation

In a significant boost to project viability, the EU has committed to reducing the permit-granting process to no more than 27 months for extraction projects and 15 months for others. This move is designed to ensure environmental, social, and governance standards are upheld while accelerating the transition to a more sustainable and secure raw materials supply chain.