The European Commission published Tuesday its list with 47 selected raw material projects deemed strategic to Europe’s supply chain, Kallanish reports.

With an estimated total capital investment of €22.5 billion ($24.35 billion), the projects will provide access to 14 of the 17 strategic raw materials identified by the EU under its Critical Raw Materials Act (CRMA). The only three materials not covered in this first list are bismuth, silicon metal and titanium metal.

According to officials in Brussels, 25 projects comprise extraction activities, 24 processing, 10 recycling and two substitution of raw materials. Some, however, are integrated, which means they will cover more than one segment of the value chain, such as extraction and processing.

Lithium is the focus of 22 projects. Other battery metal-focused projects include 12 nickel developments, 10 cobalt, seven manganese and 11 graphite.

“These projects will ensure that the EU can fully meet its extraction, processing and recycling 2030 benchmarks for lithium and cobalt, while making substantial progress for graphite, nickel and manganese,” the EC says.

The CRMA benchmarks stipulate at least 10% of the EU’s annual consumption for extraction, at least 40% for processing, and at least 25% for recycling. Additionally, there is a cap of 65% on the consumption of strategic raw materials from one single supplier at any stage of the value chain.

The designation gives projects and developers access to a coordinated support from the EC, EU countries and financial institutions to become operational. The main benefits are access to finance and streamlined permitting provisions. In line with the CRMA, permitting should not exceed 27 months for extraction projects and 15 months for other projects. Currently, the EC says permitting can last from five to 10 years.

“We must increase our own production, diversify our external supply, and make stockpiles,” comments Stéphane Séjourné, EC executive vice-president for prosperity and industrial strategy. “Today, we have identified 47 new strategic projects that, for the first time, will help us secure our own domestic supply of raw materials. This is a landmark moment for European sovereignty as an industrial powerhouse.”

France and Spain top the list with nine and seven projects, respectively. However, the developments are located across 13 EU countries. Applications for a second list will open this summer.

Map of selected projecs by value chain segment

Source: European Commission