European Raw Materials Week 13-17 November 2023
https://rawmaterialsweek2023.eu
As part of Raw Materials Week, Vincent Donnen, Partner at CDMR, took part in the 6th panel “Challenges and solutions in supply risk monitoring and mitigation” on November 14.
He highlighted his work on the possibilities of structuring strategic stocks of critical metals to combine economic efficiency and industrial resilience, as well as proposals on governance issues arising from the reconstitution of strategic stocks.
The week’s discussions were particularly rich, with the European Commission announcing a tripartite agreement in principle (with the European Parliament and the European Council) on the Critical Raw Materials Act (CRM Act). The CRM Act aims to ensure that the European Union has the means to achieve its industrial and sovereign ambitions. Among the main points, by 2030,
– 10% of critical metals consumed in the EU to come from European mines
– 25% of critical metals consumed in the EU must be recycled in the EU
– 40% of critical metals consumed in the EU to be refined in the EU
A one-stop shop should reduce the time required to process mining applications to 27 months, compared with over 10 years at present, and 15 months for metal refining and recycling projects.
Raw Materials Week demonstrated the EU’s determination to rise to the challenges of geopolitics, energy and climate change.