EU Critical Raw Materials Act

The European Union’s Critical Raw Materials Act (CRM Act) entered into force on 23 May 2024. The Act aims to ensure access to raw materials that are critical to the economy of the EU Member States as well as the clean transition.

The Act sets targets for the extraction, processing and recycling of raw materials in the EU and their imports from third countries. The measures of the Act include streamlined permitting procedures for strategic projects, national permitting contact points, risk monitoring measures, national programmes for exploring geological resources, and measures to improve recycling of raw materials. 

The European Union has listed critical raw materials that are of high economic importance for Europe while being also highly vulnerable to supply disruptions. The Act names 34 critical raw materials, of which 17 are considered strategic. Strategic raw materials are necessary for the green transition, digitalisation and defence industry technologies.

The Act sets targets for the strategic raw materials produced in the EU each year by 2030. The aim is to increase extraction to at least 10 per cent and processing to at least 40 per cent of the EU’s annual consumption. The recycling rate should correspond to 25 per cent of annual consumption. Meanwhile, no more than 65 per cent of the EU’s annual consumption of any raw material should originate from a single third country.

Projects with strategic status

Projects that are granted strategic status will receive certain advantages related to national permit-granting processes, for example. These advantages include binding maximum time limits for permit-granting processes in the Member State and a potential status as a project with overriding public interest, which would support the consideration for a derogation in accordance with the framework directives on birds, habitats and water.

Applications for a strategic project status are submitted to the European Commission, which decides on the granting of strategic status after consulting the Member State in whose territory the project is located. The Commission assesses the projects against a set of criteria laid down in the Act. Under the Act, a Member State has the right to object to and prevent that a project is recognised as a strategic project. The Government plenary session will decide on Finland’s position on the projects. 

The Finnish Supervisory Agency will be the service point for companies in Finland.

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Contact information

Jarkko Vesa, Senior Adviser 
Ministry of Economic Affairs and Employment, Innovation and Enterprise Financing Department, Industrial policy Telephone:0295047044   Email Address: