OIES – Europe’s New Critical Minerals Plan Will Unlock New Resources

Europe’s new RESourceEU Action Plan aims to mobilize up to €3 billion to support critical mineral raw materials in Europe.

The plan is part of the EU’s broader Critical Raw Materials Act issued in 2024 and focuses on reducing Europe’s reliance on Chinese supply chains for critical raw materials, including rare earth elements, battery materials, and defense-related raw materials. Key measures include accelerating permitting processes, establishing a European Critical Raw Materials Centre, stockpiling critical minerals starting in 2026, and introducing demand-side incentives to encourage non-Chinese supply. Despite these efforts, challenges remain, particularly in permitting and managing Chinese involvement in supply chains.