Roadmap for €10 billion in critical raw materials investments

Europe will need to increase its annual spending on exploration for critical raw materials to €2 billion over the next five years, from €200 million currently, according to a new study commissioned by the European Investment Bank (EIB) and prepared with the support of Aurum Exploration Limited in July 2026.

This is the only way for Europe to meet the target of sourcing at least 10% of its annual consumption of strategic raw materials from domestic extraction by 2030 under the Critical Raw Materials Act (CRMA), reducing its dependence on other countries.

The EU currently attracts only a small share of global investment in mineral exploration. In 2024, Canada accounted for 20% of the global mineral exploration budget and Australia for 16%, while the EU accounted for just 3%.

There are, however, encouraging examples within the EU, with countries such as Finland and Sweden demonstrating that strong mining activity is possible in Europe.

Greece is also seeking to strengthen its position on Europe’s critical raw materials map. According to 2025 data, the country already has two projects designated as strategic, while a further five Greek proposals are awaiting approval in 2026.

The five new Greek proposals concern existing deposits and development opportunities in selected Public Mining Areas, covering different categories of critical raw materials, including copper and germanium, as well as raw materials recycling.

Recognition of the new Greek projects as Strategic Projects would provide a significant advantage in attracting funding from European programmes, including the EU Structural Funds, InvestEU and REPowerEU, as well as from the EIB.

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