In March, the European Council passed the Critical Raw Minerals Act (CRMA), aimed at bolstering the EU’s self-sufficiency in rare minerals and diminishing dependence, particularly on China. The Act also seeks to foster collaboration with allied nations while concentrating on enhancing domestic capabilities for extraction, processing, refining, and recycling of 17 strategic raw materials.
The EU has been actively pursuing strategic agreements with non-EU countries since the beginning of 2024, focusing on critical raw materials. Notably, the EU-Chile trade agreement, ratified in February, positions Chile as the EU’s primary supplier of critical raw materials, notably lithium. Additionally, a strategic partnership between the EU and Norway was inked in March, emphasizing sustainable production of critical raw materials and battery development.
With ongoing dialogue regarding a strategic partnership between Serbia and the EU in batteries and critical raw materials, Serbia stands at the threshold of increased involvement. The European Commission underscores the importance of integrating the Western Balkans into European industrial supply chains, presenting significant potential benefits for Serbia.
Predrag Mijatović, Deputy Director of the Geological Institute of Serbia, emphasizes the EU’s reliance on the region and Serbia, suggesting that new mining investments could positively impact Serbia’s economy. He stresses the EU’s expectation of environmentally responsible mining practices in Serbia.
Goran Svilanović, former Minister in the Serbian Government, underscores the necessity for comprehensive assessments and public discourse regarding the impact of critical raw materials exploitation. He advocates for a nuanced approach, considering environmental, economic, and social factors.
The CRMA targets cobalt, lithium, copper, and nickel, crucial for green and digital initiatives. The EU aims to reduce dependence on Chinese imports and achieve net zero greenhouse gas emissions by 2050. The Act sets benchmarks for increasing domestic capacities and diversifying supply sources.
To accelerate mining project approvals, the Act proposes the formation of a Committee for Critical Raw Materials. It also encourages partnerships with third countries to ensure sustainable supply chains and environmental standards adherence.
Serbia holds significant reserves of critical raw materials like lithium, cobalt, and nickel, offering potential for collaboration with the EU. However, ensuring alignment with EU environmental standards is imperative.
Strategic partnerships and projects focusing on sustainable resource exploitation could enhance Serbia’s role in the EU’s energy and technological transition, fostering economic growth and environmental sustainability.
