Streamlines permitting and enhances access to finance for 47 Strategic Projects under the Critical Raw Materials Act
25 Mar 2025
On 25 March 2025, the European Commission designated 47 Strategic Projects under the Critical Raw Materials Act (CRMA). These projects, located across 13 EU Member States, are a core component of the European Union's strategy to mitigate supply risks for materials crucial to its renewable energy, defense, and digital sectors, such as lithium, cobalt, and nickel. The selected projects benefit from streamlined permitting and enhanced access to finance. Permitting timelines will be accelerated to a maximum of 27 months for extraction and 15 months for processing and recycling, a substantial reduction from the current multi-year processes. Financially, the projects, with an estimated capital requirement of €22.5 billion, will receive dedicated support and advice from a specialized financing sub-group to connect them with key investors and institutions like the European Investment Bank, in addition to potential funding from European Union cohesion and development funds.
Nature of measure:
Type:
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Promotion and facilitation (Investment facilitation , Investment incentives)
Industry:
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Primary (Mining and quarrying)
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Manufacturing (Manufacture of rubber and plastics products, and other non-metallic mineral products, Manufacture of basic metals)
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Services (Water supply, sewerage, waste management and remediation activities)
Inward FDI:
Yes
Outward FDI:
No
Sources:
