#insights

Geopolitics, the 2030 Agenda, decarbonisation and the energy transition, digitalisation, AI and data centres, IoT, sustainable mobility, infrastructure, smart cities, drones… These are concepts we hear every day, describing paradigm shifts that society must face now, not in the future. They all share one essential element: the growing need for mineral raw materials. And this implies strong development of the mining industry.

Before moving forward, it is worth clarifying what we mean. What are the critical minerals that today shape the geopolitics of major powers?

Since 2008, the EU has produced biennial lists of essential mineral raw materials for its industries. The 14 included in 2011 have now grown to 34 under the Critical Raw Materials Act (CRM Act), the new “European mining law”, in force since May 2024 after a record approval process.

The list distinguishes between critical raw materials and strategic raw materials. The difference is as follows: the former are defined through a quantitative assessment based on economic importance, supply risk and the possibility of substitution by other minerals; the latter follow qualitative criteria related to key sectors such as defence, communications or energy supply.

Criticality is dynamic: critical minerals change over time and differ between countries. The U.S. includes around 60, Australia over 20 and Canada 34. To reduce a national list, supply risk would need to be lowered through the exploitation of domestic resources, and substitution capacity increased through strong investment in R&D.

The CRM Act sets ambitious targets for 2030:

• At least 15% of the consumption of strategic raw materials must come from recycling within the EU. This requires increasing recycling rates, improving eco-design, boosting waste recovery capacity and enhancing recyclability through technological advances.
• 10% of critical raw materials must be extracted within European territory, implying new mining operations and overcoming existing social and political resistance. 40% of the processing of these materials must take place within the EU, reshoring the processing and refining industry.
• No supplier country may account for more than 65% of imports, ensuring diversification.

To move towards these goals, the EU is accelerating the approval of strategic mining projects. Spain ensured that 7 of the 47 selected in the first call belonged to our country, and a second call is pending. Additionally, numerous operations already produce—or aim to produce—critical minerals.

Spain is a European powerhouse in the extraction of several raw materials:

• The only producer of coltan in Europe.
• The world’s largest producer of sepiolite and the only producer in the EU.
• One of the leading copper producers thanks to the Iberian Pyrite Belt.
• Producer and exporter of tungsten, a mineral discovered by the Elhuyar brothers.
• Holds proven reserves of rare earths in Ciudad Real and Jaén.

COVID-19 and the war in Ukraine were a sharp wake-up call for Europe: they exposed the lack of domestic industry and total dependence on supply chains. But reindustrialisation and reshoring also represent an economic opportunity, generating autonomy and high-quality employment throughout the value chain: extraction, processing, refining, transformation and final production.

These raw materials are present in key sectors:

Infrastructure:

• Aggregates are the second most consumed resource in the world after water: they are used in railways, concrete, buildings and roads.
• The steel in railway tracks contains manganese, silicon and phosphorus.

Energy:

• Electric vehicle batteries: lithium, cobalt, nickel, natural graphite and manganese.
• Wind energy and electric motors: rare earths for permanent magnets.
• Photovoltaics: metallic silicon, gallium and germanium.
• Metallurgy and alloys: manganese, chromium, vanadium and metallurgical coal.

Aerospace and defence:

• Space sector: metallic titanium, beryllium and aluminium/bauxite alloys.
• Defence and guidance systems: tungsten, bismuth, antimony and heavy rare earths.
• Ammunition and armour: tungsten and other strategic metals.

Digital technologies:

• Semiconductors and microchips: gallium, germanium and metallic silicon.
• Electronics and displays: indium, tantalum, magnesium and platinum-group metals.
• Telecommunications: copper and fibre optics (dependent on germanium).

The presence of these raw materials in engineering projects introduces risks due to price volatility or supply shortages. Knowing these risks is essential to anticipate and mitigate them, whether through design decisions that reduce or substitute critical minerals, or through reliable suppliers.

At the same time, the revival of mining projects in Europe and Spain opens opportunities for engineering and construction companies: civil works in mines, water treatment plants, processing and refining facilities, mine energy supply systems, etc.

Added to this is imminent regulation on material traceability through blockchain technology, affecting project taxonomy, sustainability and ESG policies. Ignoring this reality is not an option: anticipating it will place companies in a more competitive position.

All this confirms that decarbonisation and the energy and digital transition cannot be achieved without increasing mining activity in Spain and across the EU: minerals that enable the construction of this new reality.

“If it doesn’t grow or germinate, it comes from a mine.” This phrase, widely used among miners, aims to raise awareness of the enormous presence of mining in our daily lives. Look around you and repeat it… Do you still think mining has nothing to do with you?