The draft of the so-called Critical Raw Materials Act (CRMA), which is being pursued by the EU Commission, has been released through the media.
Along with the "Net-Zero Industry Act," the Core Raw Materials Act is promoted to excel the production, processing, and recycling of key raw materials necessary for eco-friendly transformation in the EU.Adding to that, the Act aims to reduce dependence on mineral resources in specific countries by diversifying supply chains.
The EU Commission is scheduled to announce the Core Raw Materials Act (proposal) and the Climate Neutral Industry Act (proposal) on the 14th (Tue), respectively.
* CRMA PURPOSE AND OBJECTIVES
CRMA is a framework regulation for maintaining stable and sustainable mineral raw material supply chains by responding to the crisis in the core raw material supply chain and facilitating mining, processing and recycling of minerals within the EU. Through Act, EU plans to strengthen production capacity at each stage of the core raw material value chain by 2030.
To this end, the mining capacity of strategic raw material minerals in the EU will be expanded to 10% of EU annual demand, 40% of regional processing capacity, and 15% of recycling capacity.The import destination will be diversified so that each strategic mineral raw material import dependence on a specific country will not exceed 70%.
If strengthening monitoring of the core raw material supply chain, responding to the supply chain crisis, and supplying specific raw material are practically impossible to achieve, EU commission implement countermeasures.