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ARTICLE · 14 NOVEMBER 2023

EU Proposal On Critical Raw Materials

Travers Smith LLP
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On 16 March 2023, the EU Commission announced plans for the "Critical Raw Materials Act" (the "CRMA"): a "comprehensive set of actions" designed to ensure long-term access in the EU...

United KingdomCorporate/Commercial Law

On 16 March 2023, the EU Commission announced plans for the "Critical Raw Materials Act" (the "CRMA"): a "comprehensive set of actions" designed to ensure long-term access in the EU to a secure and sustainable supply of critical raw materials. The proposal forms part of the Green Deal Industrial Plan, adopted in February 2023, which aims to create a regulatory environment which supports the net-zero transition. Although on its face the draft regulation does not appear to be overly burdensome for most businesses, the draft CRMA does contain supply chain due diligence obligations that may impact large operators.

The CRMA is accompanied by a Communication which outlines how the EU intends to partner with third countries and increase global engagement in the development and diversification of sources of raw materials. The intention behind this is to ensure that critical raw material supply chains in the EU are resilient, secure, and affordable, whilst also being

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