Strategic raw Materials: a new field of wealth for Greece
by Letta Kalamara
Greece is among the main EU countries participating in revising the 2023 list of minerals and raw materials, which will be a decisive factor for the European and international economy in the coming decades.
The new European list currently include 34 critical mineral raw materials and 16 strategic minerals, which will be renewed every 4 years. Projects concerning strategic raw materials will be identified by the European Commission with the assistance of the European Council on Critical Raw Materials, which is to be established.
In this context, Greece is called upon to immediately respond to the challenge of exploiting its deposits, changing its production model, opening the way for investments and jobs in the mining industry. Greece must respond immediately on how it intends to implement the commitments under the Critical Raw Materials Act regarding licensing, research, funding of such efforts and to establish a committee to monitor the progress of critical raw materials.
The Greek mining industry can mobilize investments of more than half a billion euros with the long-term goal of increasing its contribution to the country's GDP from the current 3%, despite the geostrategic and energy challenges.
As Athanasios Kefalas, the president of the Association of Mining Companies, emphasizes in Naftemporiki, "the European Union is in the process of redefining its needs and ensuring its sustainable supply of the critical mineral raw materials needed by its industry. Critical raw materials are identified based on demand and supply risks to European industry. They are about to support the digital transition and ensuring the long-term competitiveness of European industry, as well as Europe's strategic autonomy in times of major geopolitical challenges. The immediate goals are to ensure a 10% extraction of critical raw materials in Europe, 40% of production within EU borders, 15% recycling and a maximum import limit from one country of 65%.
Mining research
"The new regulation which is in the process of institutionalization by the end of the year, in addition to an updated list of critical raw materials, specifies an additional list of strategic mineral raw materials, which are vital for strategic sectors, the green ones and digital technologies, as well as military applications.”
In addition, important obligations of the member states with measurable objectives are established, which - among others - concern the financing of targeted mining research with a five-year horizon, special fast-track procedures for project licensing in 12-24 months, monitoring of strategic reserves, encouragement and strengthening of circular economy with secondary production and governance with a special body. Through this management system, it will be possible to monitor developments in the implementation of the regulation and the relevant corrective actions or interventions," adds Mr. Kefalas.
（Editor:Liao Yifan）
