Overview of the European Union Policy of Critical and Strategic Raw Materials

Abstract

One of the most pressing problems of our time is related to the supply of raw materials, with access to certain raw materials, especially metals, being of key importance for the EU or US economy. As technology continues to evolve, these materials have a key role, but the EU relies on exclusive or very significant imports of many critical raw materials, which poses a significant supply risk for the future. Critical raw materials require continued attention from government, industry, and the scientific community. The European Union recognized the exposure of the critical raw materials value chain in 2007. Some progress has been made over the last two decades, notably in securing supply sources and recycling. The major events of recent years – COVID-19, and war conflicts – have brought another important step forward, the public debate and subsequent adoption of the EU regulation on critical raw materials. This study examines the situation in the European Union
regarding critical raw materials, through the statements produced in recent years and the unravelling of the European legislation on critical raw materials adopted in May 2023.