EU identifies 13 global critical mineral projects to support CRMA targets

The European Commission this week unveiled a list of 13 strategic critical mineral projects located outside the bloc that will benefit from coordinated financial support from European institutions, Member States, and lenders. The Commission will also help connect these projects to potential off-take partners in Europe.

It compliments alist of 47 strategic projects located within the European Union (EU), announced in March. Together, these projects represent an important step toward securing and diversifying the EU’s supply of critical mineral supply chains and will be fundamental in meeting the Critical Raw Materials Act’s (CRMA) target that the bloc should not rely on a single country for more than 65% of supply of any single strategic mineral.

According to the Commission, the newly selected projects will require a combined capital investment of €5.5 billion ($6.27 billion) to come to fruition. This comes in addition to the €22.5 billion ($24.3 billion) required for EU-based projects.

Where are the selected projects located?

Seven of the selected projects are located in Canada, Greenland, Kazakhstan, Norway, Serbia, Ukraine, Zambia, with whom the EU has signed strategic partnerships on critical minerals. The remaining projects are located in Brazil, Madagascar, Malawi, New Caledonia, South Africa, and the UK.

Notably, the inclusion of projects in Ukraine and Greenland also carries geopolitical implications for the EU’s relationship with the US. By selecting projects in these locations—Greenland and Ukraine for graphite, though notably not for Rare Earth Elements (REEs)—the EU is trying to assert itself into what the US increasingly considers its own geopolitical sphere, underscored by former President Trump’s aggressive resource diplomacy and rhetoric toward both regions.

Ten of the projects will center on extracting and processing battery raw minerals, while two projects aim to extract REEs to support the development of REE processing and Rare Earth Permanent Magnet (REPM) production capacity within the EU.

Risks to economic security arising from the concentration of global REE supply chains in China has come under increased scrutinysince it imposed export restrictions on medium and heavy REEs in April, a direct response to US President Donald Trump’s ‘Liberation Day’ tariffs.

Indeed, European automakers this week warned they could be forced to close factories within weeks due to a shortage of REPMs.

Can the EU meet its CRMA targets?

The EU is under pressure to fast-track critical mineral project timelines to meet its 2030 CRMA goals. Under current projections, Benchmark’s analysis illustrates that, aside from lithium and nickel mining, the bloc is set to fall short of its CRMA targets across each stage of the value chain.

This includes the requirement that, by 2030, domestic projects must meet 10% of mining, 40% of processing, and 25% of recycling of critical minerals to satisfy domestic demand.

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