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4w ago

EU Backs 47 Critical Raw Material Projects to Reduce Dependency on China

The EU has announced support for three German initiatives and streamlined approval processes to bolster domestic lithium production and diversify supply chains.

Rock-Tech-Chef Dirk Harbecke beim symbolischen Spatenstich für die Fabrik in Guben im Jahr 2023
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Beschäftigte in einer chinesischen Lithium-Fertigung.
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Overview

  • The EU has approved funding and support for 47 projects across 13 member states, including three in Germany, under its Critical Raw Materials Act.
  • German projects by Vulcan Energy, Rock Tech Lithium, and PCC Thorion are set to enhance lithium extraction and processing capabilities in Europe.
  • The EU aims to reduce reliance on China by targeting 10% domestic extraction and 40% processing of critical raw materials by 2030.
  • Approval timelines for mining and processing projects have been reduced to a maximum of 27 months, expediting implementation.
  • The Zinnwald Lithium project in Saxony was not classified as strategic but will proceed with plans to produce 15,000 tons of battery-grade lithium hydroxide annually.