EU designates 47 strategic projects for critical minerals

The European Commission has unveiled a list of 47 strategic projects aimed at enhancing the EU's domestic production of critical raw materials, essential for the energy transition and security. This initiative is part of the Critical Raw Material Act, which targets a mining goal of 10%, processing of 40%, and recycling of 25% of the EU's needs by 2030. The projects span 13 member states and include 22 focused on lithium, alongside efforts in nickel, cobalt, and other materials vital for battery production and green technologies. Streamlined permitting processes have been introduced to accelerate the development of these projects, addressing previous delays. The EU's strategy also aims to reduce dependency on single sources, particularly in light of supply chain challenges exacerbated by geopolitical tensions. Future announcements are expected to extend these initiatives to cover additional materials and projects outside the EU.