On 16 March, the European Commission published its package of actions to ensure the EU's access to a secure and sustainable supply of critical raw materials.
The Critical Raw Materials Act aims at improving the EU capacity to monitor and mitigate risks of disruptions and enhances circularity and sustainability. The Act includes the new EU CRM List as well as a list of so-called strategic raw materials.
The Regulation sets clear benchmarks for domestic capacities along the strategic raw material supply chain and to diversify EU supply:
At least 10% of the EU's annual consumption for extraction,
At least 40% of the EU's annual consumption for processing,
At least 15% of the EU's annual consumption for recycling,
Not more than 65% of the EU's annual consumption of each strategic raw material at any relevant stage of processing from a single third country.
The Regulation also aims to streamline permitting processes and support access to finance for 'Strategic Projects" targeting strategic raw materials.
All relevant information is available here
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