The EU announced backing for 46 new strategic projects aimed at securing supplies of critical raw materials by 2030, according to industry commissioner Stéphane Séjourné. The projects, which include plants for lithium, gallium and rare earths production, carry a funding cost of €21 billion. Séjourné said the bloc is "pulling out all the stops" to prepare for potential trade tensions with China, warning that "we could face a crisis in the coming months."
These materials are essential for the automotive, defence and renewable energy industries. Three projects were highlighted as particularly important: a rare earths plant near Pau in south-western France expected to open in late 2026; a gallium plant already operating in Greece; and a lithium extraction facility in Finland that has received €150 million support from the European Investment Bank. Séjourné said the French rare earths project alone could account for about 15% of global production of certain materials.
The move follows the Critical Raw Materials Act of 2024, which legally requires the European Commission to reduce the bloc's dependency on foreign countries. Whilst the flagship status enables accelerated permitting and help mobilising funds, critics argue the scheme is not strong enough. The EU targets mining 10%, processing 40% and recycling 25% of its own critical materials needs by 2030. Member states have unlocked €1 billion for six projects, with the European Investment Bank providing a further €660 million.