It is difficult to pin down the meaning of “critical raw materials” especially what is determined to be “critical” and “raw.”  Loosely, the term refers to mineral resources that are essential parts of things we use in our daily lives.   These resources, generally, minerals and metals, are key in agricultural and industrial productions, and are necessary for renewable energy, clean technology and development of a sustainable low-carbon future. Typically there are few viable substitutes for these materials and most consumer countries are dependent on importing them.  Supply is often dominated by one or a few producers.

A summary of critical raw materials lists reported by the European Commission in 2011, 2014 and 2017

While such minerals and metals are sometimes deemed to be rare, they are relatively abundant, but it is difficult to extract and process them.

Critical Raw Materials are indispensable for the EU economy and a wide set of necessary technologies for strategic sectors such as renewable energy, digital, aerospace and defence. The Critical Raw Materials Act (CRM Act) will ensure EU access to a secure and sustainable supply of critical raw materials, enabling Europe to meet its 2030 climate and digital objectives.

Some further ideas to explore on Critical Raw Materials (CRM):

Idenitfy which 5 CRMs are most in short supply in the EU.

Identify which economic activities are affected by this short supply.

Identify the largest supplier of the 5 CRMs and whether there is any alternative supplier.

Sources:

Murtiani Hendriwardani and Isabelle Ramdoo, CRITICAL MINERALS: A PRIMER. Intergovernmental Forum on Mining, Minerals, Metal and Sustainable Development. bit.ly/3Rz7YjH

European Union, RMIS – Raw Materials Information System bit.ly/42cClle

European Union, Study on the review of the list of critical raw materials bit.ly/4hT83te

EU Critical Raw Materials Act.  Document 32024R1252:  Regulation (EU) 2024/1252 of the European Parliament and of the Council of 11 April 2024 establishing a framework for ensuring a secure and sustainable supply of critical raw materials and amending Regulations (EU) No 168/2013, (EU) 2018/858, (EU) 2018/1724 and (EU) 2019/1020 (Text with EEA relevance)