Aiming to ensure a secure and sustainable supply of critical raw
materials for the EU, the Critical Raw Materials Act (CRMA) has
been formally adopted by the European Commission, as of 18 March
2024. This is in response to a growing global demand for resources,
with EU demand for rare earth metals, for example, expected to
increase by 700% by 2030.
Included in the CRMA are 34 types of "critical" raw
materials, such as natural graphite and magnesium, along with 17
"strategic" raw materials, such as copper and lithium,
which are deemed critical for the climate and digital
transitions.
Benchmarks for consumption
In addition to highlighting the key raw materials, the CRMA also
sets out three benchmarks for the EU's annual consumption of
these raw materials;
