The European Commission has adopted the RESourceEU Action Plan, aimed at strengthening the security of critical raw material supply in the EU-particularly lithium, cobalt, and rare earth elements - while reducing strategic dependencies and enhancing the competitiveness of European industry. The plan complements the Critical Raw Materials Act (CRMA) and provides financial and policy tools to protect industrial value chains from geopolitical and price shocks, support projects within Europe and beyond, and foster partnerships with like-minded countries.
Key measures include the establishment of a European Critical Raw Materials Centre and a Raw Materials Platform, which will provide market analysis, finance strategic projects, and manage diversified supply chains. The plan also promotes the recycling of secondary raw materials, introduces export restrictions on magnet and aluminum waste, supports domestic fertilizers and alternative materials, and launches pilot programs for critical raw material stockpiling.
RESourceEU facilitates the implementation of strategic projects by reducing investor risks and speeding up permitting processes, while also strengthening international cooperation.