Critical Raw Materials Act adopted

On the 18th of March the Council adopted the Critical Raw Materials Act (CRMA) that establishes a framework to ensure a secure and sustainable supply of critical raw materials.

The CRMA introduces clear deadlines for permit procedures for EU extracting projects, allows the Commission and member states to recognise a project as strategic, requires supply-chain risk assessments, anticipates member states to have national exploration plans and ensures the EU’s access to critical and strategic raw materials through ambitious benchmarks on extraction, processing, recycling, and diversification of import sources.

The CRMA identifies two lists of materials (34 critical and 17 strategic) that are crucial for the green and digital transitions, as well as for the defence and space industries. It also establishes three benchmarks for the EU’s annual consumption of raw materials: 10% from local extraction; 40% to be processed in the EU and 25% to come from recycled materials.

The implementation of the Critical Raw Materials Act has the potential to turn the challenges of dependencies into strategic autonomy and an opportunity for the European economy. This legislative act supports the mining sector, enhances recycling and processing capacities, and ensures that industry is prepared for the digital and green transitions.

 

SOURCE:

https://www.consilium.europa.eu/en/press/press-releases/2024/03/18/strategic-autonomy-council-gives-its-final-approval-on-the-critical-raw-materials-act/

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