The European Union’s Critical Raw Materials Act was published today in the Official Journal of the European Commission and comes in to force on 23 May. Read the full text HERE
The CRM Act lays out the framework for defining critical raw materials and strategic raw materials. It also sets targets to 2030, such as increasing the EU’s extraction and use of own resources to account for at least 10% of consumption of strategic raw materials and debottlenecking supply and building the full value chain to gradually raise this to 40%; and to increase #recycling capacity to generate 25% of the EU’s strategic raw material supply.
It also aims to ensure that by 2030 the EU does not rely on any one country for more than 65 % of its supply of any strategic raw material, with due consideration to strategic partnerships and trade agreements signed to diversify the supply chain.
You can find out more about the European Union’s critical minerals policies and ways of unlocking the region’s potential for advancing its supply chain strategies at MMTA partner association, CRM Alliance’s CRM Day 2024 in Brussels on 8th May.
