Aluminum   $ 2.1505 kg        |         Cobalt   $ 33.420 kg        |         Copper   $ 8.2940 kg        |         Gallium   $ 222.80 kg        |         Gold   $ 61736.51 kg        |         Indium   $ 284.50 kg        |         Iridium   $ 144678.36 kg        |         Iron Ore   $ 0.1083 kg        |         Lead   $ 2.1718 kg        |         Lithium   $ 29.821 kg        |         Molybdenum   $ 58.750 kg        |         Neodymium   $ 82.608 kg        |         Nickel   $ 20.616 kg        |         Palladium   $ 40303.53 kg        |         Platinum   $ 30972.89 kg        |         Rhodium   $ 131818.06 kg        |         Ruthenium   $ 14950.10 kg        |         Silver   $ 778.87 kg        |         Steel Rebar   $ 0.5063 kg        |         Tellurium   $ 73.354 kg        |         Tin   $ 25.497 kg        |         Uranium   $ 128.42 kg        |         Zinc   $ 2.3825 kg        |         
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The European Council’s recent adoption of the Critical Raw Materials Act (CRMA) marks a significant step toward enhancing fleets’ sustained access to electric vehicles (EVs) across the continent. Aimed at ensuring a secure and sustainable supply chain for crucial raw materials vital to the green economy, this legislation addresses the growing demand for materials like lithium, cobalt, graphite, manganese, platinum, and tantalum. With the global demand for lithium, essential for EV batteries and energy storage, projected to surge by up to 89-fold by 2050, the CRMA sets out provisions to safeguard the availability and sourcing of such critical resources.

Under the CRMA, 34 raw materials are designated as critical and 17 as strategic, establishing benchmarks for local extraction, processing within the EU, and utilization of recycled materials. The Act seeks to diversify the EU’s sources of raw materials, ensuring that no single country accounts for more than 65% of its strategic material supply by 2030. This move comes in response to concerns raised by the European Commission regarding supply risks and vulnerabilities stemming from over-reliance on non-EU countries for key materials, exacerbated by recent geopolitical and economic challenges.

The COVID-19 pandemic, semiconductor crisis, and energy price fluctuations have underscored the EU’s susceptibility to supply chain disruptions, prompting calls for greater self-sufficiency and resilience. Failure to secure a stable supply of critical materials poses significant risks to industries, including automotive manufacturing, and jeopardizes the EU’s ambitious green objectives. Acknowledging the importance of the CRMA, automotive manufacturers represented by ACEA view it as vital support for decarbonizing transportation, particularly as electric propulsion becomes increasingly dominant.

While the CRMA aims to enhance supply chain resilience, reactions from external stakeholders, such as the China Chamber of Commerce to the EU (CCCEU), suggest concerns about potential disruptions to global supply chains. The CCCEU urges the EU to avoid politicizing economic matters and emphasizes the importance of maintaining open dialogue and collaboration to facilitate a fair and equitable business environment for all stakeholders involved.