Critical Minerals and Energy Intelligence

The EU is Finally Waking Up to Nickel Requirements

The European Union has officially labeled copper and nickel as “strategic” raw materials in a first for the two metals as far as Europeans go. It’s a step that companies in the electric metals space have been pushing for some time but on its own, I’d question how much difference it will make. The move is part of the EU’s new Critical Raw Materials Act (CRMA), which has basically been updated to include copper and nickel (lithium, cobalt, and rare earths were already on there).

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Source: Boliden AB

So what, if anything, will it actually do? Well there’s the potential for fast-track permitting and improved access to funding for strategic projects. Admittedly, faster permitting is something that The West desperately needs. Here in North America, the U.S. and Canada have been talking a big game in critical metals for quite some time now but the reality is that there are too many things standing in the way of a meaningful ramp up of domestic production of battery metals such as nickel. Permitting is right up there at the top of that list.

Don’t misunderstand me, it does matter that the EU has made this move. The Union is sitting on a lot of money that could be unlocked for the right projects. The problem is there are a lot of hands out competing for that money. Nickel and copper projects can now join that scramble but no doubt more will join and the share of the pot will become smaller for everyone.

Anthony Milewski

Chairman, Nickel 28 Capital

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