ISTANBUL

The EU has identified 47 strategic projects to secure and diversify access to critical raw materials and reduce external dependence, according to a statement Tuesday by the European Commission.

"The new Strategic Projects mark an important milestone in the implementation of the Critical Raw Material Act (CRMA), which aims to ensure European extraction, processing and recycling of strategic raw materials meet 10%, 40% and 25% of EU's demand by 2030, respectively," it said.

The projects will also boost Europe's defense and aerospace sectors while also making a substantial contribution to the continent's green and digital transitions by assisting in the achievement of the goals.

The locations for the new projects are Belgium, France, Italy, Germany, Spain, Estonia, Czechia, Greece, Sweden, Finland, Portugal Poland and Romania.

The projects cover one or more parts of the raw material value chain -- 25 include extraction, 24 in processing, 10 dealing with recycling and 2 concerning raw material substitution activities.

The statement noted that the projects cover 14 of the 17 strategic raw materials previously identified, noting that 22 projects will benefit the EU battery raw material value chain, such as lithium, 12 in nickel, 10 with cobalt, seven in manganese and 11 dealing with graphite.

"These projects will ensure that the EU can fully meet its extraction, processing and recycling 2030 benchmarks for lithium and cobalt, while making substantial progress for graphite, nickel and manganese," it noted.

An overall investment of €22.5 billion ($24.3 billion) is expected for the projects to become operational.

The EU adopted the Critical Raw Materials Law last May to reduce its reliance on imports of vital raw materials required by its industry. The law includes limiting imports from over-dependent nations and boosting domestic production.

By 2030, the EU hopes to use the law to extract 10% of its strategic raw material needs, process 40%, and recycle 25%.