In a recent analysis, market researcher Roskill said that by adding lithium, titanium, bauxite and strontium to its 2020 List of Critical Raw Materials, the European Commission has recognized these commodities鈥� increasing strategic importance as enablers of clean technologies.
鈥淥wing to their use in applications including clean mobility, renewable energy and batteries, these commodities will play a crucial role in transitioning the EU to a low-carbon, circular economy,鈥� Roskill鈥檚 reads. 鈥淭his will be key in meeting the EC鈥檚 target to be climate-neutral by 2050 and creating an economy with net-zero greenhouse gas emissions.鈥�
Lithium, titanium, bauxite and strontium were added to the EU鈥檚 2020 List of Critical Raw Materials
The target is central to the European Green Deal and in line with the EU鈥檚 commitment to global climate action under the Paris Agreement.
Although nickel wasn鈥檛 added to the Action Plan on Critical Raw Materials and its list of 30 metals and minerals, the EC said that its experts will monitor it closely.
鈥淭he Action Plan looks at the current and future challenges and proposes actions to reduce Europe鈥檚 dependency on third countries, diversifying supply from both primary and secondary sources and improving resource efficiency and circularity while promoting responsible sourcing worldwide,鈥� the Commission鈥檚 reads. 鈥淭he actions will foster our transition towards a green and digital economy, and at the same time, bolster Europe鈥檚 resilience and open strategic autonomy in key technologies needed for such transition.鈥�