What are strategic raw materials and why does the EU need them?
The Critical Raw Materials Act, effective since May 2024, lists strategic raw materials essential for sectors like renewable energy and digital tech. The EU aims to reduce dependency on third countries by supporting strategic projects for extraction, processing, and recycling. These projects will increase EU capacity and meet 2030 goals for consumption and supply diversification.
- 10% of EUs annual consumption for extraction
- 40% for processing
- 25% for recycling
- No more than 65% reliance on a single supplier
Criteria for Strategic Project selection
Projects must secure the EUs raw material supply, be feasible, sustainable, and have cross-border benefits. A call for projects was open from May to August 2024, assessed by experts, and selected by the Critical Raw Materials Board.
Benefits and obligations
Selected projects enjoy streamlined permitting and financing support but must comply with environmental standards and report progress to the Commission. They may also be located outside the EU if they meet criteria.
For more information, visit the Strategic projects under the CRMA.