On 23 May 2024, the EU Critical Raw Materials Act (CRMA) entered into force. The CRMA addresses the concentration of critical raw materials in a small number of third countries as a potential risk to EU supply and aims to ensure a secure and sustainable supply of such critical raw materials.

The CRMA regulates the conditions under which certain projects can be qualified as strategic, which entails various forms of administrative relief, facilitated access to finance and the extension of guarantees.

Of particular importance is the requirement for large companies operating on Member State territory and using strategic raw materials in their production to carry out risk assessments at least every three years.

Timely and detailed consideration of all the implications arising from the new CRMA, including the subsequent measures, seems to be of key importance not only for the proper implementation of the new risk management obligation, but also for the strategic business planning in the following years.