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EU Critical Minerals

EU Critical Minerals Focus

EU Critical Minerals Act – 11 April 2024

Key Points
  • 1. Aim is to reduce dependence on countries outside of the EU for critical materials / minerals
  • 2. Objective by 2030​
  • i. EU Extraction: At least 10% of EU annual consumption from EU
  • ii. EU Processing: At least 40% of EU annual consumption from EU​
  • iii. EU Recycling: At least 25% of the EU’s annual consumption from domestic recycling​
  • iv. External Sources: not more than 65% of the EU’s annual consumption of each strategic raw material at any relevant stage of processing from a single third country​
  • 3. Maximum of 27 months permitting timetable for Strategic Projects involving extraction
  • 4. Single point of contact for all things permitting.
1 Aluminium/Bauxite/Alumina 18 Germanium
2 Coking Coal 19 Natural Graphite
3 Lithium 20 Tantalum
4 Phosphorus 21 Bismuth
5 Antimony 22 Hafnium
6 Feldspar 23 Niobium
7 Light rare earth elements 24 Titanium metal
8 Scandium 25 Boron
9 Arsenic 26 Helium
10 Fluorspar 27 Platinum group metals
11 Magnesium 28 Tungsten
12 Silicon metal 29 Cobalt
13 Baryte 30 Heavy rare earth elements
14 Gallium 31 Phosphate Rock
15 Manganese 32 Vanadium
16 Strontium 33 Copper
17 Beryllium 34 Nickel
1 Bauxite/Alumina/Aluminium
2 Bismuth
3 Boron — metallurgy grade
4 Cobalt
5 Copper
6 Gallium
7 Germanium
8 Lithium — battery grade
9 Magnesium metal
10 Manganese — battery grade
11 Graphite — battery grade
12 Nickel — battery grade
13 Platinum group metals
14 Rare earth elements for permanent magnets (Nd, Pr, Tb, Dy, Gd, Sm, and Ce)
15 Silicon metal
16 Titanium metal
17 Tungsten

EU Critical Raw Materials Act framework will underpin key support for Osmond’s Spanish project

The Orion Critical Minerals Project has the potential to help the EU to meet its 2030 Extraction Goals

Critical future facing minerals with major EU Supply Risk

Critical future facing minerals with major EU Supply Risk

EU Consumption*

EU Production

Titanium
(TiO2 eq)

~547k tpa

Nil or Negligible European Extraction

Rare Earths
(Nd,Pr,Tb,Dy)

~32k tpa

Nil or Negligible European Extraction

Zircon

~176k tpa

Nil or Negligible European Extraction

Hafnium

~13.6k tpa

Nil or Negligible European Extraction

Main extraction (mining) sources of Critical Minerals relied on by the EU

Source: EU Consumption – SCRREEN Factsheets CRMS 2023 / EU Production – USGS Mineral Commodity Summaries 2024.
*Demand in metric tonnes, 2016-2020 average, 20% added for GDP rises.