New milestone: The EU's critical raw materials act enters into force

On May 23, the EU Critical Raw Material Act (CRMA) came into effect. We asked Maria Sunér, CEO of Svemin, why this is important.

Why is an EU act on critical raw materials needed?

– The new geopolitical landscape is the reason. The EU consumes about 30% of the world's minerals but only produces 3% within the EU, making its value chains vulnerable. We also depend heavily on certain countries for raw materials, with China being a dominant producer of metals crucial for the green transition and defense industry,” says Maria Sunér.

– The legislation aims to boost EU supply security through increased production within the EU and diversified supply chains. The EU has set goals, such as extracting at least 10% of strategic raw materials within the EU by 2030. This is challenging as some materials are currently not mined at all in the EU,” she adds.

What does this mean for the Nordic mining industry?

– The Nordic countries are already the EU's largest mining region in terms of value and volume of metal ore. With expertise in sustainable, high-tech mining and a rich bedrock the Nordic countries can significantly contribute to the EU's goals,” Maria Sunér explains.