Earlier today, I attended this Euractiv event focused on the EU’s critical raw materials sector 🌍⚒️.
Key takeaways?
🏦 Despite clear capital availability, only a fraction is currently directed toward decarbonization and critical materials projects. In the EU, 80% of financial institutions are not allowed to invest in mining—a sector essential for advancing green and digital transitions. Commissioner-designate Dombrovskis has pledged to prioritize addressing these restrictions if confirmed, making this a key objective for the upcoming term.
🇨🇳 Currently, China controls about 65% of the market, maintaining a fully subsidized supply chain from raw materials to final products. Europe urgently needs to secure its own supply chains both domestically and through international partnerships to mitigate dependence risks.
🇪🇺 The Critical Raw Materials Act (CRM Act) and the upcoming Clean Industrial Deal represent steps in the right direction. However, inconsistent support and implementation across EU Member States, along with bureaucratic hurdles, are slowing progress. A unified, streamlined approach is essential.
📍Update on the CRM Act: MEP Hildegard Bentele noted that the first batch of strategic projects—those that will benefit from easier access to funding and faster permitting—will now be selected in March 2025, rather than late 2024. For context, the EU Commission received 170 applications for strategic project status under the CRM Act but will ultimately select only 70.
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Today we hosted the Roundtable event “The future of the European raw materials industry - How can Europe remain competitive on the global stage?".
Thank you to all who joined us, and to our panellists. Here are the key takeaways from our speakers:
🔸Léon Delvaux from European Commission
“The EU will continue to substantially rely on imports for supplies of CRMs. Trade with, investment in, and more broadly partnering with third countries will therefore be key.”
🔸MEP Hildegard Bentele
“The EU has to come to terms in raw materials policy now: implement strategic projects, conclude new partnerships, complete the internal market for secondary raw materials, facilitate recycling, increase research. Tangible progress and success are the best indicators for a real increase in European competitiveness.”
🔸Nicoletta Zappatini from Olea Capital Limited
“EU is home to many leading deep-tech players in recycling, clean fuels, new materials and related services: nurturing and scaling up them can help with raw materials scarcity, supply chain complexity and other market and geopolitical tensions.”
🔸Juan Antonio Aranzabal from ECGA (European Advanced Carbon and Graphite Materials Association)
“Needle coke and synthetic graphite are indispensable for Europe’s clean technology sectors, particularly in battery applications. Without a reliable supply of these materials, Europe’s economic resilience targets are at serious risk.”
Keep an eye on our upcoming debates: events.euractiv.com
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