A recent announcement by the European Commission of 47 Strategic Projects is set to boost the bloc’s domestic supply of raw materials, strengthening its battery and defense value chains and presenting substantial potential investment opportunities. Focused on improving the extraction, processing, recycling, and substitution of raw materials, this first batch of projects under the EU Critical Raw Materials Act (CRMA) will receive "priority status" to expedite permitting and development.
The global race for critical materials, especially "battery metals" like lithium and nickel, and rare earth elements, is reshaping geopolitics and intensifying international tensions. For the EU, securing a stable supply of these materials is crucial for its green and digital transitions and for supporting a strategically important European defense industry. The CRMA, enacted in April 2024, aims to ensure a secure, resilient, and sustainable supply of critical materials by fostering efficiency and circularity throughout their value chain. How successful the EU is in competing for investment to deliver these projects remains to be seen, with other nations similarly seeking to secure domestic supply.
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