The European Commission approved on Tuesday 47 strategic projects across 13 EU countries to strengthen the bloc's supply of critical raw materials under the Critical Raw Materials Act (CRMA). With a total expected investment of €22.5 billion, these projects aim to help the EU meet its 2030 targets of sourcing 10 per cent of its extraction, 40 per cent of its processing, and 25 per cent of its recycling needs domestically. According to an EC statement, the selected projects cover 14 of the 17 strategic raw materials listed in the CRMA, including 22 projects for lithium, 12 for nickel, 10 for cobalt, and 11 for graphite, which are crucial for the EU battery sector. The initiative will also support the defence and aerospace industries through projects focused on tungsten and magnesium. To accelerate development, the projects will benefit from streamlined permitting—limited to 27 months for extraction and 15 months for other activities—compared to current timelines of up to 10 years. They will also receive financial and regulatory support from the EU, ensuring Europe reduces dependency on external suppliers while advancing its green and digital transitions. "At the very start of our most strategic supply chains, are raw materials. They are also indispensable to the decarbonisation of our continent. But Europe currently depends on third countries for many of the raw materials it needs the most." Stéphane Séjourné, Executive Vice-President for Prosperity and Industrial Strategy, said. "We must increase our own production, diversify our external supply, and make stockpiles. Today, we have identified 47 new strategic projects that, for the first time, will help us secure our own domestic supply of raw materials. This is a landmark moment for European sovereignty as an industrial powerhouse." Séjourné concluded. Attribution: Amwal Al Ghad English Subediting: Y.Yasser Download
