The Critical Raw Materials Alliance (CRMA) was announced on 3 September 2020 as a part of the European Raw Materials Alliance (ERMA), and published the Implementation of the Action Plan on Critical Raw Materials on 16 March 2023 in which the European Commission proposes that at least 10% of the EU’s annual consumption of strategic raw materials (SRMs) should be extracted within Europe by 2030. The Action Plan on Critical Raw Materials is aimed to: develop resilient value chains for EU industrial ecosystems; reduce dependency on primary critical raw materials through circular use of re-sources, sustainable products and innovation; strengthen domestic sourcing of raw materials in the EU; diversify sourcing from third countries and remove distortions to international trade, fully respecting the EU’s international obligations. (Refer to the Inflation Reduction Act (IRA))
Related Definitions in the Project: The Project Management; Renewable Energy
