EU approves 47 raw material projects
The projects are intended to secure and diversify access to critical materials.
For the first time, the EU Commission has adoped a list of projects to boost domestic raw-material capacities.
The projects mark a milestone in the Critical Raw Materials Act (CRMA), which aims to ensure European extraction, processing and recycling of strategic raw materials meets 10%, 40%, and 25% of EU demand by 2030, respectively.
The Commission says the projects will contribute significantly to Europe's green and digital transitions, while supporting the defence and aerospace industries.
They cover one or more segments of the raw material value chain, with 25 projects comprising extraction activities, 24 processing, 10 recycling and two substitution of raw materials.
Overall, they cover 14 of the 17 strategic raw materials listed in the CRMA.
The are 22 lithium projects, 12 in nickel, 10 in cobalt, seven manganese and 11 in graphite.
The Commission says these projects are so the EU can fully meet its extraction, processing and recycling 2030 benchmarks for lithium and cobalt, while making substantial progress for graphite, nickel and manganese.
Moreover, other strategic projects involving magnesium (one project) and tungsten (three projects) will contribute to the resilience of the EU's defence industry, which relies on the use of these materials.
For all 47 to become operational, the Commission expects overall capital investment of €22.5bln.
The projects are reported to benefit from the coordinated support by the Commission, Member States and financial institutions, as well as streamlined permitting provisions.
In line with the CRMA, granting permits will not exceed 27 months for extraction projects and 15 months for others. Currently, this can take 5-10 years.
