Informal Agreement on EU Critical Raw Materials Act

by | 14. Nov 2023 - 09:36 | Politics

Vote in the Industry Committee planned for December.

The European Critical Raw Materials Act, which could make Europe less dependent on imports of raw materials, is almost on the homestretch. Yesterday evening, the European Council and the EU Parliament reached an agreement on the regulation proposed in March and subsequently modified. According to the proposal, the EU should produce ten percent of its annual demand for 17 strategic raw materials by 2030, cover 25 percent through recycling, and process a further 40 percent itself.

In its own words, the EU defines strategic raw materials as those “expected to grow exponentially in terms of supply, which have complex production requirements and thus face a higher risk of supply issues.” These include, among others, rare earths, platinum metals, gallium, and germanium. Aluminum was also added to this list.

Parliament and the Council must now approve the informal agreement, and it will be put to the vote in the Committee on Industry, Research and Energy on December 7.

Photo: iStock/DutchScenery

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