MEPs steps up their approach to critical raw materials

The European Parliament’s Committee on Industry, Research and Energy has backed new measures to secure the supply of critical raw materials in the EU. The aim is to strengthen the Union’s strategic autonomy and reduce dependence on third countries, particularly for materials essential to energy, defence and digital solutions.

The model now approved by the Committee includes targeted support for strategic projects from mining to processing and recycling. This would accelerate the development of production capacity and diversify supply chains.

More application rounds for strategic projects – support also for price-stabilitation

According to the Committee, the application process for strategic projects should be clarified. A strategic project is defined as one that makes a significant contribution to securing the EU’s supply of strategic raw materials, is technically feasible within a reasonable timeframe, and is implemented in a sustainable manner.

MEPs propose that calls for these projects should be organised at least twice a year. At the same time, the Commission would be able to launch additional calls if bottlenecks emerge in the value chains.

According to the model, the Commission should identify large companies using strategic raw materials and support them in risk management. In addition, there is a proposal to restrict the export of permanent magnet waste and scrap outside the EU to ensure that recyclable materials remain within the Union.

As a part of the package, MEPs also support price-stabilisation solutions, such as Contracts for Difference, to improve investment predictability, as well as expanding joint procurement to build strategic stockpiles among Member States.

Investments require a predictable operating environment

Finnish Minerals Group CEO Matti Hietanen welcomes the approach.

“The views of the European Parliament’s Committee on Industry, Research and Energy are highly valuable. They reinforce the need to systematically develop the entire value chain from mining to recycling and to create a predictable investment environment. This is essential for building competitive and sustainable raw material production in Europe,” Hietanen says.

The report was adopted by a clear majority in the Committee, and the Parliament will next move on to negotiations with Member States. Final decisions are expected to be reached later this year in trilogue negotiations.

The mission of Finnish Minerals Group is to responsibly maximise the value of Finnish minerals. We manage the State’s mining industry shareholdings and strive to develop the Finnish value chain of lithium-ion batteries. Through our work, we contribute to Europe moving towards electric transport and a more sustainable future. www.mineralsgroup.fi