EU's Critical Raw Materials Act

How the EU plans to win the global race for Critical Raw Materials – EURACTIV.com

Extract from article published just now...

Metals like lithium and rare earths are considered crucial to the green and digital transition. Amid a global scramble to access these resources, the EU is aiming to secure its piece of the cake by enacting new legislation – the Critical Raw Materials Act. According to the World Bank, global demand for critical raw materials is expected to skyrocket 500% by 2050, causing sharp price rises and increased supply risks in the near future. “We are experiencing a global race for the supply and recycling of critical raw materials,” European internal market commissioner Thierry Breton said in a statement. In such a competitive environment, the EU’s objective is to secure stable supplies, boost its strategic autonomy and decrease its dependency on imports. These will be the main objectives of the Critical Raw Materials Act, which is scheduled to be released in the first quarter of 2023. Building on recent experience in the area of batteries and semiconductors, the EU aims to boost its domestic production, diversify its supply chain and ramp up recycling efforts.

More of the same, but trending in the right direction.