EU Commission Publishes Proposal For Critical Raw Materials Act

On 16 March 2023, the European Commission (EU Commission) published its Critical Raw Materials Act Proposal (the Proposal). This is proposed legislation aimed at securing access for the European Union (EU) to a sustainable supply of critical minerals. The EU is looking to meet its target of net-zero greenhouse gas emissions by 2050, and reduce its dependence on non-EU countries for the sourcing and refining of critical minerals.

Summary

• The Proposal recognises the indispensable role played by certain critical raw materials in achieving the EU's climate neutrality goals across a wide range of sectors such as renewable energy, healthcare and defence, and proceeds to identify a list of critical and strategic raw materials before laying down the framework for the EU's sustainable access to these.