Key Facts:
· A new undertaking led by the European Institute of Innovation and Technology (EIT) for Raw Materials) will identify and support the preparation of joint projects as part of the EU–Australia Critical Raw Materials cooperation.
· The agreement follows the largest ever visit of delegates from the European Union to Australia in October , and a Declaration of Intent signed between the European Investment Bank (EIB) and the Australian Government.
· A key outcome will be to identify and bring together EU and Australian industries, academia, research organizations, investors and governments to prepare joint projects, and work to identify and facilitate finance for investment-ready critical minerals projects in Australia.
Canberra — The European Union is continuing to deepen its commitment to an EU-Australia strategic partnership on minerals and critical raw materials, which are vital for energy, security and stability.
On 17 November, the European Investment Bank (EIB), the bank of the European Union, through its development arm EIB Global, and the Government of Australia signed a Declaration of Intent to strengthen cooperation on critical raw materials.
This declaration is the first step towards enabling the EIB to support the financing of critical minerals projects in Australia.
Now, a new undertaking signed on 25 November provides the European Institute of Innovation and Technology (EIT) for Raw Materials the means to increase economic and industrial integration between EU and Australia in the sustainable and strategic value chain of critical minerals, and promote the exchange of good practices on standards, research and innovation in the minerals sector.
A key outcome will be to identify and bring together EU and Australian industries, academia, research organisations, investors and governments to prepare joint projects, and work to identify and facilitate finance for investment-ready critical minerals projects in Australia.
As global tensions rise and domestic consumption grows, access to critical and strategic raw materials has emerged as one of the defining global security and economic imperatives for the EU. By supporting sustainable development in critical raw materials, the partnership will contribute to shared goals in clean energy, innovation, defence and economic security.
EU Ambassador to Australia, Gabriele Visentin said: "The EU- Australia cooperation on critical raw materials is the evidence of work among like-minded partners for resilient, sustainable supply chains that benefit both our economies and our planet. Against attempts to destabilise the global trade system, including the critical raw materials sector, we seek to provide reliable and joint projects with the Australian government and industry in the minerals sector."
In October, more than 60 EU delegates visited extraction and processing sites in Western Australia and Queensland, including rare earth elements, silicon, lithium, tungsten, titanium, antimony and vanadium, amongst others. Organised by the European Commission and accompanied by the European Investment Bank, the delegation visited sites operated by Albemarle, Lynas Rare Earths, EQ Resources, and Currumbin Minerals — and joined EU-led events at IMARC 2025 in Sydney, Australia's largest mining conference.
The mission strengthened direct engagement between Australian producers and European investors and underscored the importance of sustainable sourcing for sectors including renewable energy, defence, and aerospace.
Background
The EU–Australia Memorandum of Understanding for a strategic partnership on sustainable and critical minerals was signed in March 2024, just days after the EU's Critical Raw Materials Act (CRMA) entered into force. The CRMA sets ambitious 2030 targets — for the EU to meet 10% of its demand through domestic extraction, 40% through processing, and 25% through recycling — while deepening partnerships with trusted allies such as Australia.
Earlier this year, the European Commission adopted 47 Strategic Projects under the CRMA, with over ten percent having Australian links, highlighting Australia's growing role as a key partner in Europe's secure and sustainable value chains.
EIT RawMaterials, established 10 years ago by the European Commission to develop raw materials into a major strength for Europe, directly supports the Critical Raw Materials Act (CRMA), the planned Circular Economy Act, the Net-Zero Industry Act (NZIA) and the European Industrial Strategy across the entire raw materials value chain: from exploration and extraction to processing, advanced materials production, recycling, and skills development.
Since its foundation, EIT RawMaterials has evolved into Europe's innovation-driven partner of choice for raw materials. Its achievements and strategic role were first recognised in 2020 with the mandate to lead the European Raw Materials Alliance (ERMA). The European Raw Materials Alliance (ERMA) was announced on 3 September 2020, as part of an Action Plan on Critical Raw Materials, and the publication of the 2020 List of Critical Raw Materials.
The Action Plan looks at the current and future challenges and proposes actions diversify supply from both primary and secondary sources and improving resource efficiency and circularity while promoting responsible sourcing worldwide.
