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targets?","how-achievable-are-the-eu-critical-raw-materials-targets","article/how-achievable-are-the-eu-critical-raw-materials-targets",{"_uid":547,"date":548,"tags":549,"editor":556,"content":566,"excerpt":781,"featured":51,"reporter":782,"_editable":786,"component":787,"seo_title":543,"categories":788,"visibility":798,"author_company":49,"featured_image":799,"seo_description":781,"author_full_name":49,"author_job_title":49,"formattedDate":804,"formattedArticleDate":805},"55526f2c-7432-47cf-8071-9791f91c30c3","2023-03-17 00:00",[550,553],{"slug":551,"name":552},"europe","Europe",{"slug":554,"name":555},"european-union","European Union",[557],{"slug":558,"name":559,"content":560},"matthew-bird","Matthew Bird",{"job_title":561,"image":562,"bio":564,"linkedin":565},"Senior Editor - Supply Chains & Data Visualisation",{"filename":563},"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":567,"content":568},"doc",[569,586,599,604,609,614,627,632,639,644,653,658,663,676,684,695,700,705,710,723,728,733,738,743,748,761,766,771,776],{"type":570,"attrs":571,"content":572},"paragraph",{"textAlign":49},[573,576,584],{"text":574,"type":575},"The European Union pledged to substantially increase mining and mineral processing of critical raw materials this decade, as part of plans to build a European clean energy economy and ","text",{"text":577,"type":575,"marks":578},"reduce reliance on China",[579],{"type":580,"attrs":581},"link",{"href":582,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/infographic-chinas-lithium-ion-battery-supply-chain-dominance","url",{"text":585,"type":575},". ",{"type":570,"attrs":587,"content":588},{"textAlign":49},[589,591,597],{"text":590,"type":575},"The proposed Critical Raw Materials Act aims for at least 10% of the EU’s annual consumption of critical minerals to be met by European mining, and at least 40% of its processed minerals demand. At least 15% of the mineral consumption should come from ",{"text":592,"type":575,"marks":593},"European recycling",[594],{"type":580,"attrs":595},{"href":596,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/can-the-eu-meet-its-proposed-battery-metals-recycling-targets",{"text":598,"type":575},", it said. ",{"type":570,"attrs":600,"content":601},{"textAlign":49},[602],{"text":603,"type":575},"“We want to extract more ores and minerals in Europe,” European Commission President Ursula von der Leyen said. “We want to boost our processing capacity to at least 40% of annual consumption. And of course, we need to recycle more.”",{"type":570,"attrs":605,"content":606},{"textAlign":49},[607],{"text":608,"type":575},"The legislation is designed to help Europe become less reliant on Chinese supply chains, especially for processed minerals needed for electric vehicles and clean energy technologies. China produces almost all of the world’s graphite needed for batteries, and processes 60% of the world’s lithium. ",{"type":570,"attrs":610,"content":611},{"textAlign":49},[612],{"text":613,"type":575},"The EU said it hopes that by 2030 no more than 65% of Europe’s consumption of a mineral should come from any one third country, at “any relevant stage of processing.”",{"type":570,"attrs":615,"content":616},{"textAlign":49},[617,619,625],{"text":618,"type":575},"The legislation is also a bid to catch up to the US ",{"text":620,"type":575,"marks":621},"Inflation Reduction Act",[622],{"type":580,"attrs":623},{"href":624,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/how-do-europes-energy-storage-incentives-compare-to-the-usas-ira",{"text":626,"type":575},", by setting firm targets for the sourcing and recycling of critical raw materials. However, while the EU act calls for the use of state aid for raw materials projects it doesn’t include any direct subsidies for critical mineral mining or processing, unlike the IRA.",{"type":570,"attrs":628,"content":629},{"textAlign":49},[630],{"text":631,"type":575},"Belgian battery materials company Umicore said it “regrets that the EU Commission’s proposal does not include concrete elements linking incentives to sustainable production.”",{"type":633,"attrs":634,"content":636},"heading",{"level":635,"textAlign":49},4,[637],{"text":638,"type":575},"Can Europe meet the targets? ",{"type":570,"attrs":640,"content":641},{"textAlign":49},[642],{"text":643,"type":575},"Europe is already forecast to have enough mined lithium supply to meet the 10% target by 2030, though it will need more investment in cobalt mines, according to Benchmark.",{"type":570,"attrs":645,"content":646},{"textAlign":49},[647],{"type":648,"attrs":649},"image",{"id":49,"alt":650,"src":651,"title":49,"source":49,"copyright":49,"meta_data":652},"Europe's Critical Raw Materials Act requires 10% of its critical raw materials to be mined in the EU","https://a.storyblok.com/f/287943243085208/85267e79d4/bm-europe-mining.jpg",{},{"type":570,"attrs":654,"content":655},{"textAlign":49},[656],{"text":657,"type":575},"The EU includes battery-grade lithium, cobalt, nickel, natural graphite, and manganese among its list of “strategic raw materials.” ",{"type":570,"attrs":659,"content":660},{"textAlign":49},[661],{"text":662,"type":575},"For processing, additional capacity will have to be built in every mineral apart from nickel and manganese, in order to meet the targets. This is especially the case for production of spherical graphite needed for batteries. ",{"type":570,"attrs":664,"content":665},{"textAlign":49},[666,668,674],{"text":667,"type":575},"In 2022, ",{"text":669,"type":575,"marks":670},"China produced 100% of the world’s supply of spherical graphite",[671],{"type":580,"attrs":672},{"href":673,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/could-flake-graphite-bottlenecks-push-automakers-to-synthetic",{"text":675,"type":575},", according to Benchmark. By 2030 China is set to produce 84% and the EU just 2% of global supply. ",{"type":570,"attrs":677,"content":678},{"textAlign":49},[679],{"type":648,"attrs":680},{"id":49,"alt":681,"src":682,"title":49,"source":49,"copyright":49,"meta_data":683},"Spherical graphite will be a sticking point for the EU","https://a.storyblok.com/f/287943243085208/2a957c41b5/bm-europe-refining.jpg",{},{"type":570,"attrs":685,"content":686},{"textAlign":49},[687,693],{"text":688,"type":575,"marks":689},"Recycling",[690],{"type":580,"attrs":691},{"href":692,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/what-does-europe-need-to-meet-eu-battery-recycling-targets",{"text":694,"type":575}," of nickel and lithium will also need to increase to meet the targets, according to Benchmark.",{"type":570,"attrs":696,"content":697},{"textAlign":49},[698],{"text":699,"type":575},"“The CRMA’s target of meeting 15% of the member state’s annual CRM consumption via recycling is ambitious,” Sarah Colbourn, an analyst at Benchmark said. “In order to reach these targets for lithium, it is key that the build-out of domestic recycling capacity focuses on technologies with promising lithium recovery e.g. hydrometallurgical processes”",{"type":633,"attrs":701,"content":702},{"level":635,"textAlign":49},[703],{"text":704,"type":575},"Getting shovels in the ground",{"type":570,"attrs":706,"content":707},{"textAlign":49},[708],{"text":709,"type":575},"The EU said it would rapidly reduce permitting times for projects to around 24 months for mining and 12 months for processing and recycling, something not included in the US IRA.  ",{"type":570,"attrs":711,"content":712},{"textAlign":49},[713,715,721],{"text":714,"type":575},"Current mine ",{"text":716,"type":575,"marks":717},"permitting in Europe",[718],{"type":580,"attrs":719},{"href":720,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/key-points-from-the-eus-green-deal-industrial-plan",{"text":722,"type":575}," can take as long as 15 to 17 years, according to EIT Raw Materials. ",{"type":570,"attrs":724,"content":725},{"textAlign":49},[726],{"text":727,"type":575},"“The targets of significantly shortening permitting times for mining and processing projects are very ambitious,” Roland Gauß, head of innovation and business intelligence at the EU-funded EIT RawMaterials, told Benchmark. “If successful, this will be a disruptive (social) innovation.” ",{"type":570,"attrs":729,"content":730},{"textAlign":49},[731],{"text":732,"type":575},"However, the CRM Act does not explain in detail how this is meant to be achieved, he added. ",{"type":570,"attrs":734,"content":735},{"textAlign":49},[736],{"text":737,"type":575},"“The challenge will be to deal with national as well as regional / local governmental and administrative units across the member states. In addition, the CRM Act explicitly mentions that ESG standards will be closely monitored,” he said.  ",{"type":633,"attrs":739,"content":740},{"level":635,"textAlign":49},[741],{"text":742,"type":575},"Overseas partners needed",{"type":570,"attrs":744,"content":745},{"textAlign":49},[746],{"text":747,"type":575},"Von der Leyen said the EU would strengthen cooperation with “reliable trading partners globally to reduce the EU’s current dependencies on just one or a few countries.”",{"type":570,"attrs":749,"content":750},{"textAlign":49},[751,753,759],{"text":752,"type":575},"“Our recently concluded trade agreements with ",{"text":754,"type":575,"marks":755},"Chile",[756],{"type":580,"attrs":757},{"href":758,"uuid":49,"anchor":49,"target":49,"linktype":583},"https://source.benchmarkminerals.com/article/chiles-lithium-growth-challenged-by-political-uncertainty",{"text":760,"type":575},", and the future agreements with Australia or Indonesia will help support sustainable and resilient supply chains,” Valdis Dombrovskis, executive vice-president and commissioner for trade, said. ",{"type":570,"attrs":762,"content":763},{"textAlign":49},[764],{"text":765,"type":575},"The EU would also establish a Critical Raw Materials Club for all like-minded countries willing to strengthen global supply chains, it said.",{"type":570,"attrs":767,"content":768},{"textAlign":49},[769],{"text":770,"type":575},"“The EU will never be self-sufficient in supplying such raw materials and will continue to rely on imports for a majority of its consumption,” it acknowledged. ",{"type":570,"attrs":772,"content":773},{"textAlign":49},[774],{"text":775,"type":575},"James Mills, an analyst at Benchmark, said Europe needs to increase its strategy of sourcing from Africa, South America to meet demand for lithium. ",{"type":570,"attrs":777,"content":778},{"textAlign":49},[779],{"text":780,"type":575},"“Only once these sources are also integrated does the EU stand a realistic chance to meet regional demand objectives,” he said.  ","The European Union pledged to substantially increase mining and mineral processing of critical raw materials this decade, as part of plans to build a European clean energy economy and reduce reliance on China. The proposed Critical Raw Materials Act aims for at least 10% of the EU’s annual consumption of critical minerals to be met […]",[783],{"slug":558,"name":559,"content":784},{"job_title":561,"image":785,"bio":564,"linkedin":565},{"filename":563},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"55526f2c-7432-47cf-8071-9791f91c30c3\", \"id\": \"\"}-->","article",[789,792,795],{"slug":790,"name":791},"critical-minerals","Critical Minerals",{"slug":793,"name":794},"geopolitics","Geopolitics",{"slug":796,"name":797},"sustainability","Sustainability","private",{"id":49,"alt":800,"name":800,"focus":800,"title":800,"source":800,"filename":801,"copyright":800,"fieldtype":802,"meta_data":803,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/419de8fed0/bm-highlight-20230316.jpg","asset",{"alt":800,"title":800,"source":800,"copyright":800},"Mar 17, 2023","17th March 2023",[],[],1781512946972]