The European Commission has adopted the RESourceEU Action Plan to accelerate and amplify its efforts to secure the EU's supply of critical raw materials, such as rare earth elements, cobalt or lithium. Building on the Critical Raw Materials Act (CRMA), the initiative provides financing and concrete tools to protect industry from geopolitical and price shocks, promote projects on critical raw materials in Europe and beyond, and partner with like-minded countries to diversify supply chains. The plan aims to fast-track relevant projects and reduce strategic dependencies.
The measures announced in the action plan aim to accelerate the achievement of the Critical Raw Materials Act (CRMA) objectives, preserve and expand EU production of primary and secondary CRMs, strengthen the EU’s resilience against supply disruptions and chart a path towards a faster diversification of CRMs supply chains.
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