Measures to achieve the goals

For example, permit procedures for projects deemed strategic will be streamlined. Upon application, the Commission may designate a critical raw materials project as a strategic project. These strategic projects will benefit from improved access to financing and shorter permitting timelines.

In addition, the regulation obliges Member States to increase the use of critical secondary raw materials. It also proposes measures to promote the circular economy and improve the efficient use of raw materials by developing value chains for recycled critical raw materials.

Thirdly, the regulation addresses supply risks by coordinating strategic stockpiles. It also tackles operational risks through stress tests that assess the resilience of critical raw material supply chains and their exposure to supply-related disruptions.

What does the Critical Raw Materials Act mean for businesses?

The regulation specifically concerns the recycling industry and the mining industry, industrial associations, and large companies that manufacture specific technologies using strategic raw materials.

Large companies that produce strategic technologies in the Union and rely on strategic raw materials must conduct a risk assessment of their supply chains at least every three years.

Being granted the status of a strategic project can streamline permitting procedures and thereby improve access to project funding.

How can Ramboll help?

Ramboll provides solutions to support companies in supply chain risk assessment and enhancing their risk management systems.

Examples of projects where our experts have supported organizations in relation to critical materials include:

• Ramboll updated a guide for Technology Industries of Finland entitled Critical Materials in the Technology Industry. In addition to covering the basic concepts of critical metals, the report presents up-to-date information and new insights. It also includes statistics on how Finnish technology industry companies are preparing for critical metal availability risks, along with an analysis of related EU legislation, policies and proposed developments.
  
  
• Ramboll conducted a study on the use of strategic raw materials in the City of Helsinki's procurements. The study analysed the products containing these materials across procurement groups, their volumes and the quantities of strategic raw materials involved. It also included proposals for how the City can promote the circular economy of strategic raw materials in its purchasing practices.
  
  
• Ramboll assisted a client in applying for a mining permit and obtaining strategic project status. The project involved the criteria for such status and demonstrating that the project was sustainable from both environment and societal perspectives.
  
  
• Ramboll assisted WWF in the preparation of the report The Silent Environmental Impacts of Mining Critical Minerals in the Tropics, which sheds light on the environmental and human rights impacts of minerals and metals flowing into Finland from tropical producer countries, with a particular focus on deforestation effects. In addition, the report examines the role of Finnish companies in these value chains.

For further details contact Ying Zhu, Head of Department, Compliance, Strategy & Transactions.