🚨 Many will be waking up to timelines flooded with this image, announcing mining, processing, recycling or research projects that have received 'Strategic Project' status. Sitting in the UNECE Raw Materials Week conference as this announcement took place, with many laptops fixed on the live stream - what were the key takeaways from this room?
Announcement and interactive map: https://lnkd.in/ebh4pT97
📊 Selected projects cover all value chain levels in 14 of the 17 Strategic Raw Materials (see link 1 below); though there was a prioritisation of battery materials in this first selection, questions remain as to the strength of linkages among these and other operations in strategic sectors and technologies (see link 2 below) and as to whether selecting individual projects will result in tangible improvement in EU domestic supply of materials.
Currently, only projects in the EU have been selected. Projects outside the EU will be announced in the coming weeks, and another call for applications – including for projects which were not selected in this call but received positive feedback – will be launched in 2025: market reaction will demonstrate whether the selection approach works, with selected projects more credible for investment, or if clearer criteria and more transparent processes are needed.
🇺🇳 Although it is a positive step for UNFC – that Strategic Projects are required to provide a UNFC classification, there is still much to do to clarify how this applies and whether it aligns with market expectations.
1️⃣ / 3️⃣ Approximately one third of applying projects were selected. To some this is a disappointment, with fewer projects than they had hoped benefitting from accelerated permitting timelines under the CRM Act. To others, this is a high success rate and raises concerns regarding the number of projects for regulators to process and what that could mean for successfully taking thought-through approaches to sustainability.
💯 One thing is for certain - all eyes will remain on Strategic Projects, including those that have been selected, those from third countries which are yet to be announced, and the next wave of applications.
Link 1: https://lnkd.in/eEW-8MNn
Link 2: https://lnkd.in/e5NaUFUA
#UNFC #strategicprojects #EU #CRMA #criticalrawmaterialsact #minerals #mining #UNECE