The European Commission (EC) today adopted the first list of 13 strategic projects with critical raw materials outside the European Union (EU), including the Jadar project in Serbia.
These strategic projects should diversify the EU's sources of supply and increase economic security, as well as encourage local value creation in third countries, the EC said.
EC Executive Vice-President for Prosperity and Industrial Strategy Stefan Séjourne said that Europe needs raw materials to achieve its industrial and climate ambitions and that 13 strategic projects will help it reduce dependence and contribute to economic security.
One of the accompanying documents states that the Jadar project in Serbia is being promoted by Rio Tinto through the local company Rio Sava Exploration with the aim of contributing to the supply of lithium (for batteries) and boron (for metallurgy).
The initiative adopted today complements the list of 47 strategic projects aimed at boosting domestic capacities for strategic raw materials, strengthening the European raw materials value chain and diversifying sources of supply, which was adopted at the end of March.
"A total of 60 strategic projects will contribute to the competitiveness of EU industry and in particular to the electro-mobility, renewable energy, defence and aerospace sectors. These projects are the first results of the implementation of the Critical Raw Materials Act adopted in May 2024," the Commission said.
Of the 13 strategic projects, seven are in Canada, Greenland, Kazakhstan, Norway, Serbia, Ukraine and Zambia, i.e. in countries and territories with which the EU has a strategic partnership in the field of raw materials value chains.
It further states that ten strategic projects relate to critical raw materials for electric vehicles, batteries and battery storage, such as lithium, nickel, cobalt, magnesium and graphite.
The next two projects concern rare earth elements that are key in the production of high-performance magnets used for wind turbines or electric motors.
Strategic projects also relate to copper, tungsten and boron for use in the automotive industry, renewable energy, and the defense sector.
The Commission stated that the strategic projects were assessed by independent experts to ensure that the criteria of the Critical Raw Materials Act were met, in particular regarding environmental, social and governance standards, as well as technical feasibility.
It is also stated that the selected strategic projects will benefit from coordinated support from the Commission, Member States and financial institutions in the form of accelerating access to financing and contacts with relevant buyers.
It is estimated that a total investment of 13 billion euros will be required to start work on 5,5 strategic projects outside the EU.
European Commissioner for International Partnerships Jozef Sikela stressed that ensuring a reliable supply of critical raw materials is a strategic priority for European resilience and competitiveness because it is crucial for the modernization of the economy.
"The EU's offer is to link cooperation in these areas with quality jobs, skills, access to clean energy and basic services, as well as good practices and high standards," said Sikela.
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