EU to spend eur 15 billion to secure raw materials supply until 2030

Mining Insight had the privilege of serving as a media partner for the esteemed 5th European Raw Materials Summit, which took place in Brussels, Belgium, the heart of the European Union, from May 15-17. Our collaboration with this premier mining industry event allowed us to actively participate and provide coverage of the European Raw Materials Summit, as featured in our latest May issue. Following the conclusion of the fifth session of EIT RawMaterials, Batbold.O from Mining Insight engaged in an insightful conversation with Bernd Schaefer, the CEO and Managing Director of EIT RawMaterials, shedding light on the key topics addressed during the conference and offering valuable insights into the future trajectory of mineral raw materials. This exclusive interview aims to provide our readers with a deeper understanding of the discussions and the upcoming trends in the industry. EIT RawMaterials, HQ in Berlin in collaboration with the European Institute of Innovation and Technology (EIT) of the European Union, plays a vital role in organizing the prestigious European Raw Materials Summit.

Responsible mining is crucial to making Europe self-sufficient, less vulnerable, and more competitive. In March, the EU proposed a legal framework, the Critical Raw Materials Act (CRMA), which is viewed by the metals and minerals sector as the most vital action needed to reform the industry. As an answer to this, The European Raw Materials Alliance (ERMA), which is managed by EIT RawMaterials, released the “European Call for Action on Materials For Energy Storage and Conversion,” a roadmap that, if followed and given an investment of at least Ө15bn, could supply many of the EU’s raw materials needs by 2030 and beyond. The proposed actions and the right financial investments will be crucial steps toward achieving the ambitious goals of the Green Deal.

Innovation is a crucial solution to address Europe’s raw materials gap and help achieve the net-zero agenda. The innovation community of EIT RawMaterials is a fundament for driving innovation in Critical Materials. We work together with many start-ups that are on the verge of bringing innovative, cutting-edge technologies onto the market. An example is Anna Vanderbruggen, a scientist and EIT Awards Winner 2022, who has developed a breakthrough method to recycle graphite from used lithium batteries. An important contribution to reducing the environmental impact of battery production while decreasing reliance on raw material imports from outside the EU. Another great example is MagREEsource which uses a hydrogen recycling process and innovative technologies for manufacturing new magnets from used ones. This first 50-tonper-year industrial pilot will be operational in the second half of 2023. Dust is a big problem at mining sites, to tackle this challenge Bind-X, supported by EIT RawMaterials, has developed a sustainable dust waste management solution, which makes mining and agriculture safer and more efficient.

EIT RawMaterials welcomes the Critical Raw Materials Act but we need quantifiable targets and tangible outcomes and in some cases, like recycling, more ambitious targets, to avoid merely symbolic gestures. Engaging member states, commission leaders, finance institutions, and companies is crucial to achieving the Act’s objectives. Right now, it is really about speed and execution.

The ‘Critical Raw Materials Act’ highlights the urgency to diversify supplies away from single-state economies and reduce mining permitting times that will help mobilize investment in responsible extraction. This is well underway. Together with the European Commission, we are strengthening relationships with governments and markets around the world to help secure investments and strategic opportunities. We are in regular contact with those from Ukraine, Greenland, Australia, Africa, Norway, Latin America, Canada, and the US to secure the supply of critical raw materials.