The European Commission (EC) has selected 47 projects to strengthen the continent's raw material supply, with an expected €22.5 billion in capital investment. In a Tuesday statement, the EC said the projects will spread across 13 EU countries, including Spain, France, Germany, and Sweden, and aim to reduce reliance on external sources.
They cover extraction, processing, recycling, and substitution of key materials such as lithium, cobalt, magnesium, and nickel. As part of the EU's Critical Raw Materials Act, the initiative targets 10% of the bloc's extraction needs, 40% of its processing capacity, and 25% of its recycling by 2030.
"They will also benefit from streamlined permitting provisions, to ensure predictability for project promoters while safeguarding environmental, social and governance standards. In line with the CRMA, the permit-granting process will not exceed 27 months for extraction projects and 15 months for other projects. Currently, permitting processes can last from five to 10 years," the document showed.
