Europe Aims for Independence: Investing in Critical Raw Materials

The European Commission is taking significant steps to reduce the EU's reliance on external sources for critical raw materials, particularly China.

Recently, the Commission unveiled a list of 47 "strategic projects" that will receive funding and support to develop new mines, processing facilities, and recycling plants across Europe. This initiative addresses the urgent need to secure access to essential materials, including rare earth metals, which are vital for technological advancements, military and space industries, and the ongoing green transition. These 47 projects, selected from 170 applications, involve a substantial investment of €22.5 billion and span 13 European countries.

Italy is set to play a role in this European strategy with the selection of four key projects. All four Italian projects focus on the recycling of critical raw materials, highlighting the importance of creating a circular economy within the EU. These projects include a major initiative by Glencore in Portovesme, Sardinia, to convert part of a zinc production complex into a facility for recycling end-of-life batteries to extract lithium and other valuable materials. Solvay will utilize its plant in Rosignano, Tuscany, to recover palladium from catalytic converters. Additionally, Itelyum Regeneration in Frosinone will recycle electronic waste, and Circular Materials in Padua will focus on recovering nickel, copper, and platinum from industrial liquid waste.

These European initiatives and the Critical Raw Materials Act aim to bolster the EU's resilience in a complex global landscape. By increasing domestic extraction, processing, and recycling capacities, Europe can mitigate supply chain vulnerabilities exposed by events like the pandemic, the war in Ukraine, and rising protectionist policies. The focus on critical raw materials like lithium, cobalt, nickel, and rare earth elements will not only support the growth of key industries but also drive innovation and sustainability. With streamlined permitting processes and substantial financial backing, these strategic projects pave the way for a more secure and self-sufficient future for Europe.