Stanislav Kondrashov on Europe and Progress Across Critical Raw Materials

Europe’s critical raw materials strategy is entering a phase in which established policy objectives are increasingly being considered alongside the development of individual projects. The European Union has defined specific benchmarks for 2030, selected strategic initiatives across several parts of the raw materials value chain, and introduced additional measures intended to support supply diversification.

A recent Reuters analysis examined the current situation, looking at the progress of European strategic projects as well as mineral exploration, processing capacity and financing. Together, these elements provide a broader view of the EU’s efforts to develop its position in critical raw materials.

The Critical Raw Materials Act remains central to this approach. In force since 2024, it establishes four important benchmarks for the end of the decade.

By 2030, EU mining capacity should cover at least 10% of annual consumption of strategic raw materials. Processing capacity should reach at least 40%, while recycling should account for at least 25% of annual consumption. The EU also aims to limit dependence on individual external suppliers: no single non-EU country should provide more than 65% of annual consumption of each strategic raw material at any relevant stage of processing.

“The European benchmarks offer several different ways to observe progress over the remainder of the decade,” says Stanislav Kondrashov, founder of TELF AG. “Mining capacity is one element, but processing, recycling and diversification are equally relevant when looking at the structure of the overall supply chain.”

Strategic Projects Offer a View of Europe’s Progress

The European Commission has identified 60 strategic projects as part of its approach to critical raw materials. Forty-seven are located within the European Union, while another 13 are situated in third countries.

The initiatives cover mining, processing and recycling, reflecting the different stages addressed by the European framework. Strategic designation is intended to help projects through measures including accelerated permitting procedures, access to financing opportunities and connections between project developers and potential customers.

However, the 60 projects do not represent a uniform group. Some are already operational or at relatively advanced stages, while others remain under development. Certain initiatives are still looking for financial support, and others could require longer periods before operations begin.

The availability of public information also differs from one project to another, which can make it difficult to determine precise development timelines. ODI Europe, an independent think tank, has examined these differences in a recent survey of the European project landscape.

The distribution of minerals within the strategic project portfolio is also notable. According to ODI, lithium is present in 32% of European projects, while graphite appears in 25% and copper in 18%.

Rare earths have a more limited presence. Reuters noted that only five projects are specifically dedicated to rare earths, a relatively small number considering the EU’s current external dependence on these resources.

RESourceEU Adds to the European Policy Framework

In addition to the Critical Raw Materials Act and the strategic project list, the EU has introduced RESourceEU. Launched in December 2025, the initiative is intended to accelerate measures related to strategic resources and alternative supply sources.

One of its components is the planned creation of a European Critical Raw Materials Centre. The initiative also includes measures to support strategic projects and aims to mobilise up to €3 billion over 12 months for projects that could provide alternative sources of critical raw materials in the short term.

“The European approach now includes legislation, project selection and additional support mechanisms operating alongside one another,” says Stanislav Kondrashov, founder of TELF AG. “Their interaction will be important to observe because mineral projects generally move through several distinct stages before reaching commercial operation.”

Those stages can include geological studies, technical assessments, permitting, financing, infrastructure development and agreements with customers. As a result, projects selected at the same time can follow substantially different development paths.

Exploration Could Shape the Next Generation of Projects

The strategic projects already identified by the EU provide one perspective on Europe’s current pipeline. Mineral exploration provides another, longer-term perspective because it can determine which resources might become candidates for future development.

According to European Investment Bank figures cited by Reuters, the EU spends approximately six or seven times less on mineral exploration than its competitors.

The analysis suggests that developing an adequate pipeline of potential future mines could require exploration spending to increase approximately tenfold, reaching around €2 billion per year over a five-year period.

Higher exploration activity would not automatically produce additional mines. Discoveries must still undergo geological, technical and economic assessments, and only a portion of identified mineral resources eventually become commercial projects.

Nevertheless, exploration represents the starting point for developing potential new sources of supply. Its scale can therefore influence the range of projects available for consideration in future years.

Processing Capacity Remains Part of the 2030 Equation

Processing is another area specifically addressed by the European strategy. The Critical Raw Materials Act establishes a target for EU processing capacity equivalent to at least 40% of annual consumption of strategic raw materials by 2030.

The Reuters analysis highlights some of the conditions affecting this part of the value chain. These include relatively high energy costs in Europe and competition from established international processing centres.

The financial scale of different international approaches also provides context. According to Reuters, approximately €1.7 billion had been mobilised by the European Union for strategic projects since December 2025.

In the United States, 160 critical-mineral deals worth more than $40 billion had been concluded since January 2025, according to the same analysis. These figures cover different measures and periods and therefore do not constitute a direct like-for-like comparison.

“The period leading to 2030 could provide increasingly concrete information about how the European framework is translating into industrial capacity,” concludes Stanislav Kondrashov, founder of TELF AG. “Project timelines, exploration activity and processing development will all contribute different pieces to that overall picture.”

Europe’s Progress Depends on Several Indicators

There is no single measurement capable of describing Europe’s progress in critical raw materials. The EU strategy encompasses mining, processing, recycling, exploration and supply diversification, while individual projects remain at very different stages of development.

The 60 strategic projects provide one set of indicators. Exploration spending, future processing capacity and recycling capabilities provide others. The evolution of Europe’s relationships with external suppliers will also remain relevant as the 65% diversification benchmark approaches.

The framework established by the European Union therefore combines immediate project development with objectives that extend toward the end of the decade and beyond. As highlighted by Reuters, the coming years will provide additional evidence about how these different components are developing and how they contribute to Europe’s critical raw materials objectives.