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Commission recognises lithium as critical raw material","european-commission-recognises-lithium-as-critical-raw-material","article/european-commission-recognises-lithium-as-critical-raw-material",{"_uid":557,"date":558,"tags":559,"editor":563,"content":573,"excerpt":645,"featured":50,"reporter":646,"_editable":650,"component":651,"seo_title":553,"categories":652,"visibility":656,"author_company":49,"featured_image":657,"seo_description":645,"author_full_name":49,"author_job_title":49,"formattedDate":662,"formattedArticleDate":663},"cbf6869b-da69-492b-b334-69cb2ffa1fda","2020-09-09 00:00",[560],{"slug":561,"name":562},"europe","Europe",[564],{"slug":565,"name":566,"content":567},"didi-bostock","Didi Bostock",{"job_title":568,"image":569,"bio":571,"linkedin":572},"Editor - Energy Transition & Economics",{"filename":570},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":574,"content":575},"doc",[576,583,588,593,608,613,618,625,630,635,640],{"type":577,"attrs":578,"content":579},"paragraph",{"textAlign":49},[580],{"text":581,"type":582},"In its latest review of the European Union (EU) critical raw materials list, the European Commission has included lithium as it also outlined an action plan to look at current and future challenges facing Europe’s critical minerals supply chain.","text",{"type":577,"attrs":584,"content":585},{"textAlign":49},[586],{"text":587,"type":582},"The EU critical minerals list has been updated every three years since 2011, growing from 14 materials in its first iteration to 30 materials in the 2020 update. The list takes into account the economic importance and supply risk of raw materials, and lithium has now been recognised by the Commission as a critical raw material, given the role it plays in the battery supply chain.",{"type":577,"attrs":589,"content":590},{"textAlign":49},[591],{"text":592,"type":582},"This recognition of lithium’s growing importance to the EU comes at a time when electric vehicle production on the continent is ramping up to meet the demands of a rapidly expanding electric vehicle market. However, while battery production increases Europe’s domestic production of lithium currently represents less than 1% of global supply according to Benchmark’s Lithium Forecast. Benchmark’s forecast shows that Europe’s share of production is set to increase to 3% of global supply in 2025 and 9% by 2030 but the continent still needs to take major steps to improve its supply chain security.",{"type":577,"attrs":594,"content":595},{"textAlign":49},[596,598,606],{"text":597,"type":582},"The European Commission also announced that it would be establishing a European Raw Materials Alliance. In its first stage of the alliance, efforts will be focused on rare earths and magnets supply chain risk, but it has the potential to expand to other raw materials over time. This follows the ongoing successes of the European Battery Alliance, which has been pivotal in developing battery megafactories such as the ",{"text":599,"type":582,"marks":600},"twin PSA-Total plants in France and Germany",[601],{"type":602,"attrs":603},"link",{"href":604,"uuid":49,"anchor":49,"target":49,"linktype":605},"https://source.benchmarkminerals.com/article/total-saft-psa-europes-fourth-largest-ev-battery-producer-if-e5bn-mega-project-executes","url",{"text":607,"type":582},".",{"type":577,"attrs":609,"content":610},{"textAlign":49},[611],{"text":612,"type":582},"Discussing the latest developments Maroš Šefčovič, Vice-President for Interinstitutional Relations and Foresight said: “A secure and sustainable supply of raw materials is a prerequisite for a resilient economy. For e-car batteries and energy storage alone, Europe will for instance need up to 18 times more lithium by 2030 and up to 60 times more by 2050. As our foresight shows, we cannot allow to replace current reliance on fossil fuels with dependency on critical raw materials. This has been magnified by the coronavirus disruptions in our strategic value chains. We will therefore build a strong alliance to collectively shift from high dependency to diversified, sustainable and socially-responsible sourcing, circularity and innovation”.",{"type":577,"attrs":614,"content":615},{"textAlign":49},[616],{"text":617,"type":582},"The EU also outlined an action plan on critical minerals, in which it acknowledged the importance of building domestic raw material capacity but also noted that Europe could not rely on domestic supply alone and should also look to fostering relationships with third countries.",{"type":619,"attrs":620,"content":622},"heading",{"level":621,"textAlign":49},4,[623],{"text":624,"type":582},"Europe’s battery supply chain imbalance     ",{"type":577,"attrs":626,"content":627},{"textAlign":49},[628],{"text":629,"type":582},"The latest European efforts to shore up its raw material supply chains draws further attention to the imbalances in European supply chain security. This could not be clearer in the battery sector, into which there has been significant investment into downstream lithium ion cell production capabilities while swathes of the upstream supply chain still need funding.",{"type":577,"attrs":631,"content":632},{"textAlign":49},[633],{"text":634,"type":582},"Benchmark’s Lithium ion Battery Megafactory assessment is tracking 16 European facilities in the pipeline, which will account for 16% of global battery capacity in 2029. But the continent currently has less than 1% of cathode production capacity, and only 5% of cathode projects under construction according to Benchmark’s Cathode Market Assessment.",{"type":577,"attrs":636,"content":637},{"textAlign":49},[638],{"text":639,"type":582},"Battery raw material production and processing capacity on the continent is woefully under-equipped to support any of Europe’s future battery cell demand. Less than 1% of the world’s lithium is produced in Europe and it currently has no processing capacity to produce lithium chemicals for the battery sector. There are, however, a number of battery raw material projects on the continent which will be hoping to gain further support from efforts such as the European Raw Materials Alliance. Support from the European Battery Alliance has begun to trickle into European projects. For instance, in June this year, Infinity Lithium received funding from EIT InnoEnergy – a public-private partnership supported by the European Commission – to build a pilot plant for its San Jose project in Spain.",{"type":577,"attrs":641,"content":642},{"textAlign":49},[643],{"text":644,"type":582},"To effectively support the buildout of electric vehicles on the continent both industry and government need to look upstream to raw material supply and processing. The potential for supply shortfalls and bottlenecks has already been illustrated earlier this year in Q1 when a number of OEMs reported Tier 1 battery cell shortages, highlighting how critical it is for Europe to build out its supply chain infrastructure as electric vehicle adoption increases.","In its latest review of the European Union (EU) critical raw materials list, the European Commission has included lithium as it also outlined an action plan to look at current and future challenges facing Europe’s critical minerals supply chain. The EU critical minerals list has been updated every three years since 2011, growing from 14 […]",[647],{"slug":565,"name":566,"content":648},{"job_title":568,"image":649,"bio":571,"linkedin":572},{"filename":570},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"cbf6869b-da69-492b-b334-69cb2ffa1fda\", \"id\": \"\"}-->","article",[653],{"slug":654,"name":655},"critical-minerals","Critical Minerals","private",{"id":49,"alt":658,"name":658,"focus":658,"title":658,"source":658,"filename":659,"copyright":658,"fieldtype":660,"meta_data":661,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/3c66d27180/bm-maro-efovi-1-european-union-2014-european-parliament.jpg","asset",{"alt":658,"title":658,"source":658,"copyright":658},"Sep 09, 2020","9th September 2020",[],[],1792773939260]