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The European Commission announced today that it approved 47 strategic projects for the mining, processing, and recycling of rare earths and raw materials on European soil in order to reduce dependence on third countries and diversify supply sources.
The 47 approved strategic projects are in 13 EU member states: Greece, Belgium, France, Italy, Germany, Spain, Estonia, the Czech Republic, Sweden, Finland, Portugal, Poland, and Romania.
These projects cover 14 out of the 17 strategic metals, such as lithium, nickel, cobalt, graphite, and aluminum, listed in the Critical Raw Materials Act (CRMA) which came into force in May 2024. According to this law, the goal is for the EU by 2030 to be able to meet at least 10% of mining needs, 40% of processing needs, and 25% of recycling for each of these metals. Additionally, the goal is for the EU by 2030 not to depend on a third country for more than 65% of its strategic raw material needs.
A Greek project on the Committee’s list
A Greek project is included in the Committee’s list. It was submitted by the company “Metlen Energy and Metals and European Bauxites” and involves the mining and processing of bauxite, alumina, and gallium. It is the only project among the 47 in the EU that involves the mining of these specific metals.
According to the Commission, the 47 projects were selected as they contribute to the EU’s secure supply of strategic raw materials, meet environmental, social criteria and governance criteria, and are technically feasible.
To be operational, the 47 strategic projects have an expected total capital investment of 22.5 billion euros. These projects will be able to benefit from coordinated support from the Commission, member states, and financial institutions to become operational, particularly with regard to access to funding and support for stakeholder engagement. They will also benefit from simplified licensing procedures. According to CRMA, the licensing process will not exceed 27 months for mining projects and 15 months for other projects, whereas today these processes take five to ten years.
“Europe is currently dependent on third countries for many of the raw materials it needs most. We must increase our own production, diversify our external supply, and create stockpiles,” said the Commission’s Executive Vice-President for Industrial Strategy, Stéphane Séjourné. “This is a milestone moment for European sovereignty as an industrial power,” he added.
Finally, it is noted that the Commission has received applications for “strategic projects” located in third countries. The decision on the possible selection of these projects will be issued at a later stage. (25/3/2025)
Source of the graph: European Commission