The Critical Raw Materials Act, geopolitics and supply diversification – what next?

The sixth webinar in our series on Navigating the European Green Deal by Europe Jacques Delors and Brunswick Group zoomed in on the Critical Raw Materials Act (CRMA).

Timothy Schultz, Brunswick’s Energy & Resources lead in South Africa kicked off the session with his insights from the mining industry there. Our guests Stefano Sannino, Secretary-General at the European External Action Service and Andres Blanco, CEO of Xcalibur Smart Mapping discussed the implications of the Critical Raw Materials Act from both the political and business perspectives with our moderators Geneviève Pons-Deladrière and Pascal Lamy.

A common motif across the session’s key conclusions was cooperation and partnership:

- At the geopolitical level, the EU needs both competition and cooperation with other countries in the quest for the critical raw materials (CRM) needed for the digital and green transitions.

- In its relations with resource-rich countries, the EU needs to continue its path of establishing mutually beneficial strategic partnerships that create local value and foster sustainable development in partner countries.

- Governments also need to partner up with the private sector to identify opportunities and mobilise financial resources to develop sustainable CRM value chains both in the EU and abroad.

The Critical Raw Materials Act is an important milestone for both EU policymaking and business. It presents an opportunity for the EU to develop CRM supply chains that are more equitable and green, while fostering the technological innovation needed to reduce environmental impacts of mining and improve efficiency in the consumption and recycling of critical minerals.