26.8 C
Supported byspot_img

Political agreement reached between European Parliament and Council on Critical Raw Materials Act

Member of Europium Groupspot_img
Supported byspot_img

Euro Sun Mining Inc. announced that the European Commission has reached a political agreement on the Critical Raw Materials Act. The Act represents a significant milestone in ensuring the European Union’s access to secure, diversified, affordable and sustainable supply of critical raw materials, and in particular, Euro Sun is pleased to announce that copper has been deemed both a strategic raw material and critical raw material.

The Act seeks to increase domestic EU capacities for critical raw materials along the supply chain by identifying strategic projects that would benefit more streamlined, faster and more efficient permitting procedures as well as facilitated access to finance. Furthermore, the Act specifies that the EU should have the capacity to extract 10%, process 40%, and recycle 25% of its annual consumption of strategic raw materials by 2030. The Act will also require monitoring of critical raw materials supply chains, and an obligation for large companies to perform risk assessments of their supply chains.

Supported by

The Act will now be submitted to the European Parliament and the Council for formal approval. Commenting on the political agreement of the Act, Mr. Grant Sboros, Chief Executive Officer of Euro Sun, said “We welcome the passing of the Act and applaud the EU’s recognition of the importance of increasing domestic production of critical materials, in particular copper. Euro Sun believes the Rovina Valley Project is a perfect candidate for the Act given that it is situated in Romania and its sizable copper deposits. We look forward to working with the government of Romania to streamline the permitting and financing of the Rovina Valley Project under the Act.”


Source: Globe Newswire

Supported byElevatePR Digital

Related News

Rio Tinto challenges Serbian government with arbitration notice on Jadar project

Background of the dispute: Jadar project and environmental protests The British-Serbian activist group Earth Thrive has reported that Rio Tinto has officially notified the Serbian...

There is no technology that guarantees the safe processing of lithium in the form it exists in Serbia

The Rio Tinto lithium mining project has never been conclusively dismissed, just paused, waiting for the dust to settle before being reintroduced with even...

“Jadar” will not pollute river streams

As the discussion about the "Jadar" project has reignited in recent days, the public in Serbia remains confused by the extremely contradictory narratives about...

Serbia’s lithium mining revival: Implications for EU membership and geopolitics

Serbia is aiming to position itself as a significant supplier of lithium in Europe, reviving a contentious mining project that was previously abandoned due...
Supported by
Supported by
Supported by
error: Content is protected !!