Numerous companies are applying for recognition as strategic projects.
The European Union wants to bolster its supply of critical raw materials. To achieve this, the Critical Raw Materials Act (CRMA) came into force in May. The CRMA stipulates quotas for the extraction, processing, and recycling of a whole range of resources that are “essential for the Union economy and the functioning of the internal market,” according to the legislators’ wording. Projects that contribute to achieving this can benefit from simplified permitting phases and support in accessing funding. A lack of capital and bureaucracy are repeatedly cited as key challenges for the sector.
Applications Also From Outside the EU
The first round of applications for recognition as “strategic projects” under the CRMA ended last Thursday. The EU Commission has now announced that 170 applications were received by the deadline.
Most of the projects, which range from lithium to rare earths, are focused on the extraction of raw materials (77), with the remainder on further processing (58) and recycling (30) as well as the substitution of certain materials (5). The documents are now being examined and evaluated. It was not disclosed which companies – 49 are not from the EU – have applied for the current round. However, Leading Edge Materials, owner of the Projet de terres rares de Norra Kärr in Sweden, and the state-owned Swedish mining group LKAB are among them. The latter wants to develop the Per Geijer rare earth deposit in the country’s north.
An initial list of strategic projects will be presented in December. The deadline for the next round of applications is scheduled for the first quarter of 2025.
