In March 2023, the European Commission presented its Critical Raw Material Act (CRMA) which aims at securing the supply of critical raw materials, mitigating risks to supply chains and reducing the EU´s strategic dependencies while boosting European autonomy, for example by promoting refining, processing and recycling of raw materials in Europe.

The new regulation sets benchmarks for domestic capacities and for critical and strategic raw materials supply chains to diversify EU supply by 2030. At the same time, the CRMA includes a strong international component by focussing on international cooperation as an essential element of a successful raw materials supply strategy. Where do we go from here? And what do Parliament and the Council need to do so that concrete projects can start?

The first reaction from European industry was rather positive. The fact that critical raw materials are on the political agenda has been welcomed. On the one hand, critical raw materials such as lithium for batteries are crucial for various manufacturing industries. On the other hand, with the European mining equipment industry for example, there are sectors in the EU that provide both the network and the technology to ramp up a sustainable, clean extraction and production of raw materials, both in the EU and in third countries.

Also, the creation of a Critical Raw Materials Club together with like-minded countries is being discussed, with the aim of strengthening global supply chains, expanding Free Trade Agreements and combating unfair trade practices.

Relisten to this EURACTIV Virtual Conference to learn more about the implications of the EU’s Critical Raw Material Act for European industry and technology providers, and how extraction, processing and recycling of critical raw materials by European companies can be supported.  Discussed questions included:
- What are the prospects for a critical raw materials “club” in the current complex geopolitical context?
- What is needed to ramp up sustainable exploration in the EU and ensure the required acceptance?
- How can Member States and private companies be supported in maximising the recovery and reuse of critical raw materials?
- How effective can the CRMA be in monitoring and mitigating risks of disruptions to the supply chain as well as enhancing circularity and sustainability?