26.5 C
Supported byspot_img

Tracing the course: The development of the EU’s Critical Raw Materials Act

Member of Europium Groupspot_img
Supported byspot_img

The journey to enacting the Critical Raw Materials Act (CRMA) in the EU has been a lengthy one, spanning over a decade. Despite the EU’s initial identification of Critical Raw Materials in 2011, which included 14 items, it took considerable time to formulate, garner political support, and finally announce the CRMA in September 2022.

Following the proposal’s official presentation by the EU Commission in March 2023, as part of the Green Deal Industrial Plan for the Net-Zero Age, the EU Parliament endorsed it in December of the same year. Subsequently, in March 2024, the EU Council granted approval and adoption of the act, with expectations for it to become law in May 2024.

While the European Commission touts a record time for achieving political consensus on the CRMA, the reality is that the European Council required 14 discussion meetings before the law’s adoption. Additionally, the relevant specialist committee of the European Parliament navigated through 1,172 amendments proposed for the CRMA, with 107 eventually put to vote.

Supported by

Despite these challenges, the successful passage of the act stands as a significant achievement for the EU. It promises to fortify critical raw materials supply chains for years to come, although it may not be without anticipated obstacles, in our assessment.

Supported byElevatePR Digital

Related News

Mali signs lithium mining agreement with Ganfeng, eyes revenue boost

Earlier this week, Mali's economy minister announced a significant deal with China's Ganfeng Lithium regarding the operation of the Goulamina lithium mine. Under the...

Weardale Lithium proposes advanced extraction plant in County Durham, UK

Weardale Lithium Limited, a natural resources company based in County Durham, UK, has recently filed a planning application with Durham County Council. This application...

EU nations present critical minerals investment strategies at Raw Materials summit

Representatives from leading nations disclosed their plans for critical minerals public funds at this year's Raw Materials Summit in Brussels, aiming to attract investment...

Final legal discussions underway for EU-Serbia lithium trade partnership

Commissioner Maroš Šefčovič revealed that the final legal obstacles are being addressed before the EU-Serbia trade partnership, focused on sourcing lithium from the Jadar...
Supported by
Supported by
Supported by
error: Content is protected !!