Explainer
The ‘critical’ classification comes not necessarily from scarcity, but rather from the minerals’ economic significance, high-risk supply and lack of viable substitutes. The ‘green transition’ necessitates secure access to these energy transition minerals, meaning we must confront issues around energy geopolitics, over-dependencies, imbalances in supply and demand, and resource nationalism. The EU’s Critical Raw Materials Act aims to mitigate some of these problems through regulations, innovation, environmental protection, import diversification and the development of strategic partnerships.