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Critical Raw Materials: EU's Action Plan for a Sustainable Supply

Addressing the Challenge of Critical Raw Materials

The European Union (EU) is facing a significant challenge in ensuring a secure and sustainable supply of critical raw materials (CRMs). These materials are essential for various industries and technologies, and their disruption could have severe economic consequences.

What are Critical Raw Materials?

CRMs are raw materials that are:

• Of high economic importance for the EU
• Have a high risk of supply disruption

The EU has identified 30 CRMs, including minerals such as lithium, cobalt, and rare earth elements.

The Critical Raw Materials Act

To address this challenge, the European Commission has proposed the Critical Raw Materials Act (CRM Act). This act aims to:

• Strengthen the EU's resilience to supply disruptions
• Promote sustainable sourcing and recycling
• Support research and innovation

The CRM Act will establish a framework for identifying and monitoring CRMs, diversifying supply chains, and promoting circular economy principles.

Key Provisions of the CRM Act

The CRM Act includes several key provisions, such as:

• A list of CRMs to be monitored and assessed
• A framework for cooperation with third countries
• Measures to promote sustainable extraction and recycling
• Support for research and innovation

Conclusion

The Critical Raw Materials Act is a comprehensive and ambitious plan to address the EU's critical raw materials challenge. By diversifying supply chains, promoting sustainable sourcing and recycling, and supporting research and innovation, the EU aims to ensure a secure and sustainable supply of these essential materials.

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