The European Commission has named 46 new strategic projects for critical minerals, from copper and lithium to rare earths. They get faster permits and help raising money as Europe tries to cut its reliance on China.
At a glance
- The 46 projects span 16 EU countries and need about €21.1 billion of investment.
- More than half of the new projects involve recycling.
- Two KGHM copper projects in Poland, worth 9.5 billion zlotys, made the list.
Background
The EU's Critical Raw Materials Act, in force since May 2024, sets targets for 2030. Europe wants to mine 10% of its yearly needs for key minerals, process 40% and recycle 25%. Projects named as strategic get capped permitting times and help applying for public and private funding. The status does not guarantee approval or direct EU money.
What happened
The European Commission on October 9 selected 46 new strategic raw material projects. They are spread across 16 EU countries and cover 15 of the bloc's 17 strategic raw materials. These include copper, lithium, nickel, cobalt, manganese, graphite, rare earths, magnesium and tungsten.
The projects are expected to need about €21.1 billion of investment, from public and private sources. More than half involve recycling. The Commission had received more than 160 applications in its second call for projects, which closed in January.
Copper in Poland
Polish copper producer KGHM said two of its investments made the list, worth a combined 9.5 billion zlotys. One is the Retków-Grodziszcze mine, which aims to extract more than 100 million tonnes of ore by 2055. That ore would yield nearly 1.5 million tonnes of copper and more than 5,000 tonnes of silver.
The other is a conversion of KGHM's Legnica smelter toward recycling. KGHM shares rose about 4% in early trade after the announcement. Strategic status caps permitting at 27 months for mines and 15 months for processing and recycling plants.
What it means
Europe depends heavily on China for many critical minerals, and this list is part of its effort to change that. The Commission said the new projects, together with earlier selections, could meet its 2030 targets for lithium and rare earths. Gaps remain for other materials.
The first round in 2025 named 60 projects, including 13 outside the EU in countries such as Brazil, Greenland and Kazakhstan. Faster permits help, but most of these projects still need years of building before they produce any metal.
Our read
Outlook: neutral. The projects take years to reach production, so the list does not change copper supply today. It signals more European mining and recycling capacity over the next decade.
What to watch
- Permitting decisions on the new projects within the EU's capped timelines.
- How much of the €21.1 billion investment is actually raised.
- Progress on KGHM's Retków-Grodziszcze mine and Legnica recycling conversion.
For information only, not investment advice.
Copper price in India
metalscost.com India reference price as of 2026-10-16.
Detailed analysis
Timeline
- 2024-05-23: The EU's Critical Raw Materials Act enters into force.
- 2026-01-19: The Commission reports more than 160 applications in its second call for strategic projects.
- 2026-10-09: The Commission selects 46 new strategic projects, including two KGHM investments.
Supply Drivers
The selected projects could add European mining, processing and recycling capacity for copper and battery metals over time.
Government Policies
The Critical Raw Materials Act caps permitting at 27 months for mines and 15 months for processing and recycling.
Geopolitical Risks
The list is part of the EU's push to reduce heavy reliance on China for critical minerals.
What could lift prices
- Most projects are years from production, so they add no near-term copper supply.
- Strategic status does not guarantee approval or EU funding, so some projects may never be built.
What could weigh on prices
- Faster permits could bring new European copper supply, such as KGHM's 1.5 million tonnes, sooner.
- More recycling capacity would reduce Europe's need for newly mined metal.
Country impact
| Country | Impact | Reason |
|---|---|---|
| Poland | Medium | Two KGHM copper investments worth 9.5 billion zlotys gained strategic status. |
| China | Low | Europe is building alternatives to its heavy reliance on Chinese critical minerals. |
Industry impact
| Industry | Effect | Reason |
|---|---|---|
| Copper Mining | Positive | KGHM's new mine gains faster permitting under strategic status. |
| Recycling | Positive | More than half of the 46 new projects involve recycling. |
| Critical Minerals Mining | Positive | Projects across 15 strategic materials get help raising funds. |
Who gains, who loses
- KGHM Polska Miedź: Two projects worth 9.5 billion zlotys gain capped permitting times.
- European metal recyclers: Recycling makes up more than half of the new list.
- Rejected applicants: More than 160 projects applied, but only 46 were selected in this round.
Other ways this could play out
- If the projects raise their €21.1 billion, Europe could meet its 2030 lithium and rare earth targets.
- If funding falls short, many projects could stay on paper despite their strategic status.
Price risks
- Copper prices depend on global mine supply and demand, not on early-stage European projects.
- Delays in permitting or funding would push any supply effect further out.
Technical view
Price is mixed relative to its 20-period and 50-period moving averages, showing no clear trend alignment.
Computed from metalscost.com's own stored price history.
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