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25/06/2024
Mining News

EU nations outline plans for critical minerals investment at Raw Materials Summit

Representatives from leading nations disclosed their plans for critical minerals public funds at this year’s Raw Materials Summit in Brussels, aiming to attract investment and fortify supply chains in the sector.

Collectively, these nations intend to deploy approximately €2.5 billion in public funding, with a goal of augmenting it through private investment. The funds are anticipated to be available by summer and will primarily target domestic mining, processing, and recycling operations to ensure stable critical raw materials supply chains.

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These investment plans encompass over 30 critical minerals identified in the EU’s Critical Raw Materials Act, with a specific emphasis on lithium, copper, and rare earth elements.

Germany’s initiatives involve a €1 billion investment in critical raw materials, managed by the KfW Development Bank. The German Government plans to hold a minority stake in invested projects and aims to secure additional funding. Furthermore, Germany intends to establish a raw materials committee to oversee project approvals.

France announced a €500 million investment into its national minerals fund, with Infravia Capital Partners tasked with generating additional funding to reach a total of €2 billion. These investments will advance the entire value chain for critical raw materials in France.

Italy unveiled the ‘Made in Italy’ fund last December, earmarking €1 billion for critical minerals investment. Alberto Castronovo from the Ministry of Enterprises and Made in Italy outlined plans for an additional €1 billion in private investment.

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