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Further, no more than 65% of demand for one critical mineral should be met by a single country.",[614],{"type":575,"attrs":615},{"color":577},{"type":567,"attrs":617,"content":618},{"textAlign":49},[619],{"text":620,"type":572,"marks":621},"Benchmark analysis shows that with the exception of lithium and nickel extraction, the bloc is forecast to miss the targets for battery metals across mining, processing and recycling.",[622],{"type":575,"attrs":623},{"color":577},{"type":625,"attrs":626},"blok",{"id":627,"body":628},"43829a63-bc75-4e1f-a2d1-b527d795018c",[629],{"id":630,"_uid":631,"type":632,"component":633,"fixed_height":562,"use_fixed_height":50,"fixed_height_mobile":562,"fixed_height_tablet":562},"28206187","i-2aa811de-d503-4ecf-9197-4351af5bd8d2","visualisation","ContentFlourish",{"type":635,"attrs":636,"content":638},"heading",{"level":637,"textAlign":49},2,[639],{"text":640,"type":572,"marks":641},"Where has most progress been made?",[642],{"type":575,"attrs":643},{"color":577},{"type":567,"attrs":645,"content":646},{"textAlign":49},[647,652,661,666,675],{"text":648,"type":572,"marks":649},"Lithium and nickel mining within the EU is currently forecast to meet over 10% of domestic demand. 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Progress was made on this front in March 2025, when it was proposed to ",[714],{"type":575,"attrs":715},{"color":577},{"text":717,"type":572,"marks":718},"reclassify black mass as a hazardous waste",[719,723],{"type":581,"attrs":720},{"href":721,"uuid":722,"anchor":49,"target":585,"linktype":586},"/article/eu-classifies-black-mass-as-hazardous-waste-to-reduce-critical-mineral-leakage","ffae495f-722e-4740-ba5f-40c3fdbe2d18",{"type":575,"attrs":724},{"color":577},{"text":726,"type":572,"marks":727},". With this classification, exports would be restricted to OECD countries only, making it easier to track the movement of black mass.",[728],{"type":575,"attrs":729},{"color":577},{"type":567,"attrs":731,"content":732},{"textAlign":49},[733,738,747,752,761],{"text":734,"type":572,"marks":735},"Progress on the implementation of the CRMA has also been made. A key part of this is the establishment of Strategic Projects. These are projects that the EU deems vital to the production of critical minerals. In 2025, ",[736],{"type":575,"attrs":737},{"color":577},{"text":739,"type":572,"marks":740},"47 projects were given the Strategic classification",[741,745],{"type":581,"attrs":742},{"href":743,"uuid":744,"anchor":49,"target":585,"linktype":586},"/article/eu-strategic-projects-could-help-progress-on-crma-goals","d9455e37-4678-4f4f-a0bf-63f788af84d7",{"type":575,"attrs":746},{"color":577},{"text":748,"type":572,"marks":749}," within the EU, along with ",[750],{"type":575,"attrs":751},{"color":577},{"text":753,"type":572,"marks":754},"13 further projects",[755,759],{"type":581,"attrs":756},{"href":757,"uuid":758,"anchor":49,"target":585,"linktype":586},"/article/eu-identifies-13-global-critical-mineral-projects-to-support-crma-targets","3b4b414a-cfc5-48de-bbcc-2b488ec78b48",{"type":575,"attrs":760},{"color":577},{"text":762,"type":572,"marks":763}," from outside of the region.",[764],{"type":575,"attrs":765},{"color":577},{"type":635,"attrs":767,"content":768},{"level":637,"textAlign":49},[769],{"text":770,"type":572,"marks":771},"Where is the most progress required?",[772],{"type":575,"attrs":773},{"color":577},{"type":567,"attrs":775,"content":776},{"textAlign":49},[777],{"text":778,"type":572,"marks":779},"The EU has no needle coke production nor any domestic synthetic graphite capacity expected to come online by 2030. As such, the bloc is wholly dependent on imports for synthetic anode, though the region does have some flake graphite mines and is forecast to meet 17% of its spherical graphite needs domestically in 2030.",[780],{"type":575,"attrs":781},{"color":577},{"type":567,"attrs":783,"content":784},{"textAlign":49},[785],{"text":786,"type":572,"marks":787},"Of the battery metals, manganese is the furthest away from hitting the CRMA targets, with no sizable domestic mined source of manganese and only one operating facility producing the high purity manganese sulphate monohydrate (HPMSM) required for battery applications. The largest HPMSM pipeline project is Euro Manganese’s Chvaletice project which isn’t expected online until at least 2030 if it proceeds to schedule.",[788],{"type":575,"attrs":789},{"color":577},{"type":635,"attrs":791,"content":792},{"level":637,"textAlign":49},[793],{"text":794,"type":572,"marks":795},"How do EU policies support the goal?",[796],{"type":575,"attrs":797},{"color":577},{"type":567,"attrs":799,"content":800},{"textAlign":49},[801,805,814],{"text":571,"type":572,"marks":802},[803],{"type":575,"attrs":804},{"color":577},{"text":806,"type":572,"marks":807},"RESourceEU Action Plan",[808,812],{"type":581,"attrs":809},{"href":810,"uuid":811,"anchor":49,"target":585,"linktype":586},"/publications/briefings/geo-economic-and-policy-briefings/geo-economic-and-policy-briefing-december-2025","c1b66b19-6e88-4b60-9edc-f631ba9834c1",{"type":575,"attrs":813},{"color":577},{"text":815,"type":572,"marks":816}," was adopted in December 2025, aiming to accelerate the EU’s battery and permanent magnet supply chain security efforts. Part of this is an EU CRM Financing Hub, which aims to help finance and derisk projects through a variety of existing EU funding programs, such as the EU Innovation Fund. The hub aims to secure and deploy EUR3 billion ($3.5 bn) by the end of 2026.",[817],{"type":575,"attrs":818},{"color":577},{"type":567,"attrs":820,"content":821},{"textAlign":49},[822],{"text":823,"type":572,"marks":824},"Another part of the Action Plan to be implemented this year is the Critical Raw Material Centre, which is supposed to coordinate the CRM Financing Hub and support joint stockpiling and purchasing efforts, and which the EU Commission hopes, in the end, to turn into a strategic market-shaping mechanism.",[825],{"type":575,"attrs":826},{"color":577},{"type":567,"attrs":828,"content":829},{"textAlign":49},[830,834,843,848,857],{"text":571,"type":572,"marks":831},[832],{"type":575,"attrs":833},{"color":577},{"text":835,"type":572,"marks":836},"Industrial Accelerator Act",[837,841],{"type":581,"attrs":838},{"href":839,"uuid":840,"anchor":49,"target":585,"linktype":586},"/article/industrial-accelerator-act-adds-made-in-eu-requirements-for-automakers","f241906f-ea0d-4bcf-84e5-4ca9c212a23f",{"type":575,"attrs":842},{"color":577},{"text":844,"type":572,"marks":845}," (IAA), tabled by the European Commission in March 2026, plans to mandate a certain proportion of electric vehicles and batteries to be “",[846],{"type":575,"attrs":847},{"color":577},{"text":849,"type":572,"marks":850},"Made in EU",[851,855],{"type":581,"attrs":852},{"href":853,"uuid":854,"anchor":49,"target":585,"linktype":586},"/publications/briefings/geo-economic-and-policy-briefings/geo-economic-and-policy-briefing-edition-2-2026","4a0659e5-0b2b-441e-877d-2b232bcecee6",{"type":575,"attrs":856},{"color":577},{"text":858,"type":572,"marks":859},"”, which could provide demand-side support for domestic projects.",[860],{"type":575,"attrs":861},{"color":577},{"type":567,"attrs":863,"content":864},{"textAlign":49},[865,870,879,884,893],{"text":866,"type":572,"marks":867},"Although the EU has set ambitious targets across the critical mineral space and has made some progress towards them, significantly more investment is required to meet them. ",[868],{"type":575,"attrs":869},{"color":577},{"text":871,"type":572,"marks":872},"Coherent policy action",[873,877],{"type":581,"attrs":874},{"href":875,"uuid":876,"anchor":49,"target":585,"linktype":586},"/article/europe-policy-and-defence-key-quotes-from-giga-europe-2026","c7988c65-254d-49b5-b9b1-bab4bf5071b7",{"type":575,"attrs":878},{"color":577},{"text":880,"type":572,"marks":881}," and potentially public capital will be needed to draw in ",[882],{"type":575,"attrs":883},{"color":577},{"text":885,"type":572,"marks":886},"private capital",[887,891],{"type":581,"attrs":888},{"href":889,"uuid":890,"anchor":49,"target":585,"linktype":586},"/videos/investing-in-critical-mineral-supply-chains-interview-with-quentin-lamarche","fb13450b-1ab4-4728-9bd3-46363996f176",{"type":575,"attrs":892},{"color":577},{"text":894,"type":572,"marks":895}," and derisk critical mineral investments.",[896],{"type":575,"attrs":897},{"color":577},{"type":567,"attrs":899,"content":900},{"textAlign":49},[901],{"type":902},"hard_break","The European Union still requires significant investment in critical mineral projects if it is to meet the non-binding targets set out in its Critical Raw Materials Act (CRMA) which came into force in May 2024.\nThe Act set targets for 10% of the bloc’s critical mineral demand to be met by domestic mining, 40% by domestic processing, and 25% by recycling. Further, no more than 65% of demand for one critical mineral should be met by a single country.\nBenchmark analysis shows that with the exception of lithium and nickel extraction, the bloc is forecast to miss the targets for battery metals across mining, processing and recycling.",[905,914],{"slug":906,"name":907,"content":908},"matthew-bird","Matthew Bird",{"job_title":909,"image":910,"bio":912,"linkedin":913},"Senior Editor - Supply Chains & Data Visualisation",{"filename":911},"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/",{"slug":915,"name":916,"content":917},"bryan-bille","Bryan Bille",{"job_title":918,"image":919,"bio":921,"linkedin":922,"markets_covered":923},"Lead Analyst - Government Policy",{"filename":920},"https://a.storyblok.com/f/287943243085208/512x512/1491bc3cc9/bryan-bille.jpeg","Bryan has more than 8 years of policy and geopolitical experience covering numerous areas, such as international trade, industrial policy, critical minerals, battery and EV supply chains and the broader energy transition. Bryan currently oversees Benchmark Mineral Intelligence’s policy and geopolitical coverage and leads Benchmark’s strategic outreach to policymakers. Before joining Benchmark, Bryan obtained a degree in corporate law from the University of Antwerp and an international political economy degree from King’s College London. He also held various positions within the Belgian diplomatic corps and politics, where he was involved in multiple policy issues and international negotiations at the EU level. ","https://www.linkedin.com/in/bryanbille/","Critical Mineral, Battery and EV Supply ","article",[926,929,931,933,935,938,941,943,946,949,951],{"slug":927,"name":928},"critical-minerals","Critical Minerals",{"slug":930,"name":8},"lithium",{"slug":932,"name":115},"cobalt",{"slug":934,"name":150},"nickel",{"slug":936,"name":937},"manganese","Manganese",{"slug":939,"name":940},"synthetic-graphite","Synthetic Graphite",{"slug":942,"name":189},"natural-graphite",{"slug":944,"name":945},"graphite","Graphite",{"slug":947,"name":948},"recycling","Recycling",{"slug":950,"name":373},"black-mass",{"slug":952,"name":953},"geopolitics","Geopolitics","private",{"id":956,"alt":562,"name":562,"focus":562,"title":562,"source":562,"filename":957,"copyright":562,"fieldtype":958,"meta_data":959,"is_external_url":50},159405371505186,"https://a.storyblok.com/f/287943243085208/1590x2164/5bd373204a/crma-q1-2026-2x.png","asset",{},{"id":961,"alt":562,"name":562,"focus":562,"title":562,"source":562,"filename":962,"copyright":562,"fieldtype":958,"meta_data":963,"is_external_url":50},129067466984180,"https://a.storyblok.com/f/287943243085208/c71059049a/bm-european-commission-flags-e1649948622413.jpg",{},"The European Union still requires significant investment in critical mineral projects if it is to meet the non-binding targets set out in its Critical Raw Materials Act (CRMA) which came into force in May 2024.","Mar 27, 2026","27th March 2026",[],[],1780500912328]