EU Critical Raw Materials Act

The European Union has recently announced a new Critical Raw Materials Act aimed at securing the supply of essential raw materials for the EU's economy while promoting sustainable and responsible mining practices. The act comes as a response to the growing demand for raw materials, such as rare earth elements and lithium, which are crucial for the development of technologies like electric vehicles and renewable energy.

The new act focuses on several key areas, including the identification of critical raw materials, the promotion of sustainable mining practices, and the development of a secure and sustainable supply chain. The act will require member states to develop national action plans aimed at ensuring the sustainable and responsible supply of critical raw materials. The plans will include measures to reduce dependence on imports, promote resource efficiency and recycling, and support the development of alternative sources of raw materials.

The act also includes measures to promote sustainable and responsible mining practices, including the establishment of a certification system for raw materials produced in the EU. The certification system will ensure that raw materials are produced in compliance with environmental and social standards, and will provide greater transparency and accountability in the mining sector.

Overall, the new EU Critical Raw Materials Act represents an important step towards ensuring the sustainable and responsible supply of critical raw materials for the EU's economy. By promoting sustainable mining practices and developing a secure and sustainable supply chain, the EU can help to reduce its dependence on imports while promoting environmental and social sustainability in the mining sector.