This includes a target to extract “at least 10%” of the EU’s annual consumption of key raw materials on European soil, as well as a 40% target for processing and a 15% target for recycling. On Thursday, the European Commission presented its Critical Raw Materials Act (CRMA), setting out aspirational targets to boost domestic capacity, from mining to recycling. Taking lithium as an example, “the needs are expected to be multiplied by 10 by 2040,” Gallezot told lawmakers in the French Parliament’s foreign affairs committee on Wednesday (15 March).Ĭentral to the EU’s energy transition is the need to revisit its strategy for sourcing strategic metals and minerals – ranging from lithium and cobalt to steel and copper. France has a “very strong” interest” in “metal diplomacy” and will push for a very ambitious EU Raw Materials Act at a meeting next week that will see foreign ambassadors and industrialists discuss the EU’s and France’s strategy on the matter.ĭemand for rare metals is expected to grow exponentially in the coming years, according to Benjamin Gallezot, France’s minister-delegate for the supply of strategic minerals and metals.

Advance steel power pack