Visualizing EU’s Critical Minerals Gap by 2030

What We’re Showing

The forecasted supply gap for critical minerals in the European Union (EU) by 2030. This data comes exclusively from Benchmark Mineral Intelligence, as of July 2024. 

Key Takeaways 

The EU aims to reduce its reliance on foreign countries for critical minerals used in clean technologies such as batteries, solar panels, and wind turbines by:

• Increasing domestic extraction (mining) to supply at least 10% of its strategic raw materials by 2030.
• Boosting processing capacity to produce at least 40% of its annual consumption of these materials by 2030.
• Enhancing recycling capacity to meet at least 25% of its annual consumption of these materials by 2030.

Data from Benchmark Mineral Intelligence, however, shows that the forecasted supply falls short:

• Graphite is the largest mineral component used in batteries. By 2030, the European Union is expected to supply 16,000 tonnes of flake graphite locally, compared to the 45,000 tonnes it would need to meet the 10% mining target.
• The EU is also expected to mine 29,000 tonnes of LCE (lithium carbonate equivalent) compared to the 46,000 tonnes needed to meet the 10% target.