The European Commissioner for Financial Services, Mairead McGuinness, presented the outline of the future Critical Raw Materials Act to MEPs on 15 February. The Commission is expected to unveil it on 8 March (see EUROPE 13021/5). Its objectives are broadly shared by the European Parliament, which also wants to secure access to critical raw materials as a matter of urgency and promote circularity in their extraction and use.
Almost all speakers in the debate on this subject recalled the EU’s heavy dependence on Beijing. And the Commissioner explained the scope of this: “China provides over 90% of the magnesium in the EU and 98% of the rare earth supply”.
The solution to this problem lies in increasing extraction in the EU and diversifying suppliers internationally. The Critical Raw Materials Act will focus on the first aspect, but will be accompanied by a communication that will focus on the external dimension of extraction, Ms McGuinness said.
She also echoed the announcement by European Commission President Ursula von der Leyen to create a raw materials club, “to work with partners who share our values” (see EUROPE 13112/4).
As the EU is not alone in its concerns about access to critical raw materials, it must “act very quickly”, the Commissioner insisted.
MEPs broadly supported these various proposals, while insisting on points that they consider essential: simplification of procedures for extraction permits, for example, or the recycling of raw materials, which must be optimised.
It is also important for MEPs to ensure that human rights and environmental protection are respected throughout the extraction and production process. In this context, “partnerships such as a raw materials club can help create more equal legislation”, said Henrike Hahn (Greens/EFA, German). (Original version in French by Léa Marchal)