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Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":812,"relatedVideos":813},112469352453364,"2d688f4e-b185-4fd8-9318-04507be26d9b","EU forecast to fall short of 2030 CRMA targets without ambitious action","eu-forecast-to-fall-short-of-2030-crma-targets-without-ambitious-action","article/eu-forecast-to-fall-short-of-2030-crma-targets-without-ambitious-action",{"_uid":547,"date":548,"tags":549,"editor":565,"content":575,"excerpt":791,"featured":51,"reporter":792,"_editable":796,"component":797,"seo_title":543,"categories":798,"visibility":802,"author_company":49,"data_vis_image":803,"featured_image":807,"seo_description":791,"author_full_name":49,"author_job_title":49,"formattedDate":810,"formattedArticleDate":811},"3a986f6c-ba9b-4b69-ba6f-3b7cd33bf5aa","2024-07-02 00:00",[550,553,556,559,562],{"slug":551,"name":552},"critical-raw-materials-act","Critical Raw Materials Act",{"slug":554,"name":555},"data-visualisation","Data Visualisation",{"slug":557,"name":558},"europe","Europe",{"slug":560,"name":561},"european-union","European Union",{"slug":563,"name":564},"policy","Policy",[566],{"slug":567,"name":568,"content":569},"matthew-bird","Matthew Bird",{"job_title":570,"image":571,"bio":573,"linkedin":574},"Senior Editor - Supply Chains & Data Visualisation",{"filename":572},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":576,"content":577},"doc",[578,585,600,605,610,617,622,627,632,637,642,653,662,667,679,691,696,701,712,720,733,738,743,748,753,758,763,776,781,786],{"type":579,"attrs":580,"content":581},"paragraph",{"textAlign":49},[582],{"text":583,"type":584},"The targets laid out in the European Union’s Critical Raw Materials Act will require significant growth in the bloc’s mining, processing and recycling capabilities, Benchmark data shows.","text",{"type":579,"attrs":586,"content":587},{"textAlign":49},[588,590,598],{"text":589,"type":584},"The Act, which came into force last month requires that by 2030 certain percentages of the bloc’s combined annual demand for strategic minerals be met by EU-based mines, processors and recyclers. Further, no more than 65% of any given strategic mineral should come from a ",{"text":591,"type":584,"marks":592},"single non-EU country",[593],{"type":594,"attrs":595},"link",{"href":596,"uuid":49,"anchor":49,"target":49,"linktype":597},"https://source.benchmarkminerals.com/article/eu-needs-international-partners-for-critical-minerals-diversification","url",{"text":599,"type":584},".",{"type":579,"attrs":601,"content":602},{"textAlign":49},[603],{"text":604,"type":584},"This comes as companies have until August to apply for “strategic project” status. Such projects will enjoy streamlined permitting processes and are expected to help the EU to meet its goals as well as easier access to EU funding.",{"type":579,"attrs":606,"content":607},{"textAlign":49},[608],{"text":609,"type":584},"“These projects in and outside the European Union are supposed to help the EU meet its supply localisation and diversification targets,” Bryan Bille, a policy analyst at Benchmark, said.",{"type":611,"attrs":612,"content":614},"heading",{"level":613,"textAlign":49},4,[615],{"text":616,"type":584},"What are the targets?",{"type":579,"attrs":618,"content":619},{"textAlign":49},[620],{"text":621,"type":584},"The Critical Raw Materials Act lays out four targets for the bloc to meet by 2030. These reflect the EU’s ambitious goals rather than being legally binding.",{"type":579,"attrs":623,"content":624},{"textAlign":49},[625],{"text":626,"type":584},"Official Journal of the European Union",{"type":579,"attrs":628,"content":629},{"textAlign":49},[630],{"text":631,"type":584},"For mining, processing, and recycling the targets are for all the strategic minerals combined. A shortfall in, for example, the mining of cobalt in the EU could be compensated for by nickel mining surpassing the target.",{"type":611,"attrs":633,"content":634},{"level":613,"textAlign":49},[635],{"text":636,"type":584},"Which targets are the EU close on?",{"type":579,"attrs":638,"content":639},{"textAlign":49},[640],{"text":641,"type":584},"Within battery metals, lithium and nickel are the only minerals for which the EU is on track to meet the 10% mining target in terms of demand from battery applications.",{"type":579,"attrs":643,"content":644},{"textAlign":49},[645,651],{"text":646,"type":584,"marks":647},"Benchmark’s Lithium Forecast",[648],{"type":594,"attrs":649},{"href":650,"uuid":49,"anchor":49,"target":49,"linktype":597},"https://www.benchmarkminerals.com/forecasts/lithium/reports/",{"text":652,"type":584}," shows that between 2024 and 2030, lithium mining in the EU is set to increase 27-fold. Currently, Portugal is the only EU country with any lithium mining. By 2030, however, France and Finland are forecast to be the largest EU miners of lithium.",{"type":579,"attrs":654,"content":655},{"textAlign":49},[656],{"type":657,"attrs":658},"image",{"id":49,"alt":659,"src":660,"title":49,"source":49,"copyright":49,"meta_data":661},"CRMA goals require ambitious action","https://a.storyblok.com/f/287943243085208/ffe8e47542/bm-crma-mining-and-processing-q1-2024.png",{},{"type":611,"attrs":663,"content":664},{"level":613,"textAlign":49},[665],{"text":666,"type":584},"Which targets are the EU behind on?",{"type":579,"attrs":668,"content":669},{"textAlign":49},[670,672,678],{"text":671,"type":584},"The EU’s processing of critical minerals falls below 40% of its domestic demand from battery applications. For refined cobalt production, the bloc’s current forecast 2030 production in the EU needs to almost triple to meet the 40% target, according to ",{"text":673,"type":584,"marks":674},"Benchmark’s Cobalt Forecast",[675],{"type":594,"attrs":676},{"href":677,"uuid":49,"anchor":49,"target":49,"linktype":597},"https://www.benchmarkminerals.com/forecasts/cobalt/reports",{"text":599,"type":584},{"type":579,"attrs":680,"content":681},{"textAlign":49},[682,684,690],{"text":683,"type":584},"For anode materials, the EU is forecast to fall well short on both the mining of flake graphite as well as the ",{"text":685,"type":584,"marks":686},"production of spherical graphite",[687],{"type":594,"attrs":688},{"href":689,"uuid":49,"anchor":49,"target":49,"linktype":597},"https://source.benchmarkminerals.com/article/sweden-is-only-eu-member-set-to-produce-spherical-graphite-by-2030",{"text":599,"type":584},{"type":579,"attrs":692,"content":693},{"textAlign":49},[694],{"text":695,"type":584},"Although the EU is forecast to have sizable synthetic graphite production in 2030, most of this is not suited to battery applications.",{"type":579,"attrs":697,"content":698},{"textAlign":49},[699],{"text":700,"type":584},"The EU is forecast to have some mining and processing capacity in 2030 for most of the strategic minerals. However, for manganese ore and petroleum coke–the precursor to synthetic graphite–there is no production forecast in the EU by 2030.",{"type":579,"attrs":702,"content":703},{"textAlign":49},[704,710],{"text":705,"type":584,"marks":706},"Battery recycling",[707],{"type":594,"attrs":708},{"href":709,"uuid":49,"anchor":49,"target":49,"linktype":597},"https://source.benchmarkminerals.com/article/is-europe-ambitious-enough-on-recycling",{"text":711,"type":584},", too, needs significant investment if it is to account for 25% of the EU’s strategic mineral demand from batteries. Nickel from European recycled sources is currently forecast to represent the greatest proportion of demand at just shy of 9%.",{"type":579,"attrs":713,"content":714},{"textAlign":49},[715],{"type":657,"attrs":716},{"id":49,"alt":717,"src":718,"title":49,"source":49,"copyright":49,"meta_data":719},"2030 recycled metal supplies forecast to fall short of 25% CRMA goals","https://a.storyblok.com/f/287943243085208/aa638dfbe6/bm-crma-recycling-q1-2024.png",{},{"type":579,"attrs":721,"content":722},{"textAlign":49},[723,725,731],{"text":724,"type":584},"However, the CRMA has already had a ",{"text":726,"type":584,"marks":727},"positive impact on the EU recycling ecosystem",[728],{"type":594,"attrs":729},{"href":730,"uuid":49,"anchor":49,"target":49,"linktype":597},"https://source.benchmarkminerals.com/article/crma-boosts-eus-2030-battery-recycling-pipeline-by-28",{"text":732,"type":584}," with a year-on-year increase of 28% in the bloc’s recycling capacity between the end of 2022 and the end of 2023.",{"type":611,"attrs":734,"content":735},{"level":613,"textAlign":49},[736],{"text":737,"type":584},"Can the EU meet these goals?",{"type":579,"attrs":739,"content":740},{"textAlign":49},[741],{"text":742,"type":584},"The data clearly show the level of ambition behind the EU’s goals, but is it realistic to think they can be met?",{"type":579,"attrs":744,"content":745},{"textAlign":49},[746],{"text":747,"type":584},"“These data are a reality check for the EU, again underlining the importance of supply diversification and the fact that the EU will need to rely on supply from mineral-rich strategic partners to meet its 2030 targets and to diversify away from China,” Bille said.",{"type":579,"attrs":749,"content":750},{"textAlign":49},[751],{"text":752,"type":584},"A key mechanism the EU plans to use for meeting its goals is through the designation of strategic projects.",{"type":611,"attrs":754,"content":755},{"level":613,"textAlign":49},[756],{"text":757,"type":584},"What are strategic projects?",{"type":579,"attrs":759,"content":760},{"textAlign":49},[761],{"text":762,"type":584},"If a company can show that their project will help the EU to meet ambitious CRMA goals, then it can be given the “strategic” label.",{"type":579,"attrs":764,"content":765},{"textAlign":49},[766,768,774],{"text":767,"type":584},"Strategic projects will be entitled to an ",{"text":769,"type":584,"marks":770},"expedited permitting process",[771],{"type":594,"attrs":772},{"href":773,"uuid":49,"anchor":49,"target":49,"linktype":597},"https://source.benchmarkminerals.com/article/five-key-takeaways-from-giga-europe-2024",{"text":775,"type":584}," that will take no more than 27 months for mining projects or 15 months for pure processing or recycling projects.",{"type":579,"attrs":777,"content":778},{"textAlign":49},[779],{"text":780,"type":584},"Although the process is quicker than for non-Strategic projects, an environmental impact assessment must still be carried out and delays on this assessment could push a project beyond the 27 or 15 month time period.",{"type":579,"attrs":782,"content":783},{"textAlign":49},[784],{"text":785,"type":584},"Strategic projects can be developed outside of the EU, though an accelerated permitting procedure cannot be guaranteed in these instances. Benchmark contacts have said that around 90% of strategic projects are expected to be within the EU region.",{"type":579,"attrs":787,"content":788},{"textAlign":49},[789],{"text":790,"type":584},"The deadline for the first round of strategic project applications is 22 August 2024, with decisions expected to be made towards the end of the year. The EU will announce its decisions from the fourth quarter of 2024.","The targets laid out in the European Union’s Critical Raw Materials Act will require significant growth in the bloc’s mining, processing and recycling capabilities, Benchmark data shows. The Act, which came into force last month requires that by 2030 certain percentages of the bloc’s combined annual demand for strategic minerals be met by EU-based mines, […]",[793],{"slug":567,"name":568,"content":794},{"job_title":570,"image":795,"bio":573,"linkedin":574},{"filename":572},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"3a986f6c-ba9b-4b69-ba6f-3b7cd33bf5aa\", \"id\": \"\"}-->","article",[799],{"slug":800,"name":801},"geopolitics","Geopolitics","private",{"id":49,"alt":659,"name":804,"focus":804,"title":659,"source":804,"filename":660,"copyright":804,"fieldtype":805,"meta_data":806,"is_external_url":51},"","asset",{"alt":659,"title":659,"source":804,"copyright":804},{"id":49,"alt":804,"name":804,"focus":804,"title":804,"source":804,"filename":808,"copyright":804,"fieldtype":805,"meta_data":809,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/dc1f121d92/bm-eu-flags-2.jpg",{"alt":804,"title":804,"source":804,"copyright":804},"Jul 02, 2024","2nd July 2024",[],[],1781087878974]