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International
EU Critical Raw Materials Act
The updated EU Critical Raw Materials Act supports safe, stable and sustainable Critical Raw Material value chains in Europe.
Titanium metal is now on the Strategic Raw Material (SRM) list. It’s possible phosphorus and vanadium will soon follow.
CRMs are indispensable for the EU economy and a wide set of necessary technologies for strategic sectors such as renewable energy, digital, space and defence. The Critical Raw Materials Act (CRM Act) will ensure EU access to a secure and sustainable supply of CRMs, enabling Europe to meet its 2030 climate and digital objectives.
Sustainable & secure supply
The CRM Act is a legislative framework that aims to ensure a sustainable and secure supply of CRMs for the European economy.
It provides a list of essential CRMs for industries like renewable energy, electric vehicles, chemicals, and fertilisers. Although Norway, as non-EU member, is not directly subject to the CRM Act, it has close economic ties with the EU as a member of the European Economic Area (EEA). Consequently, Norway’s Minister has stated that the Act will be implemented into the country’s own legislation.
Diversifying European chains
The CRM Act is also aiming to aid in diversifying European supply chains by identifying strategic projects in third countries.
Establishing these is considered essential to improving the EU’s security of supply. A European CRMs Board (CRMB) will be responsible for monitoring the progress of these partnerships and identifying which third countries should be prioritised for collaboration.
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