The EU Critical Raw Materials Act (the “CRMA”) came into force on May 23, 2024 after the new regulation was signed on April 11, 2024. The CRMA identifies and seeks to protect European supply chains of critical and strategic raw materials, including by regulating the procedure, funding, disclosure and financing of “Strategic Projects.” Industry participants globally, including sponsors, borrowers, investors and commercial banks will be interested in the following aspects of the CRMA set out in the attached memorandum.
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