Critical Raw Materials Act
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Since 2011 the European Commission has assessed every 3 years a list of Critical Raw Materials (CRMs) for the EU economy within its Raw Materials Initiative. To date, 14 CRMs were identified in 2011, 20 in 2014, 27 in 2017 and 30 in 2020.[1] These materials are mainly used in energy transition and digital technologies.[1] Then in March 2023 Commission President Ursula von der Leyen proposed the Critical Raw Materials Act,[2] "for a regulation of the European Parliament and of the European Council establishing a framework for ensuring a secure and sustainable supply of critical raw materials".[3] At the time, Europe depended on China for 98% of its rare-earth needs, 97% of its lithium supply and 93% of its magnesium supply.[4]
In the U.S., critical minerals that are at risk of shortage or supply chain disruption are assessed by the United States Geological Survey and by the National Science and Technology Council.[5][6][7][8]