[Replay] The European Critical Raw Materials Act: strategic projects and the United Nations Framework Classification (UNFC) for Resources
Within the framework of the recent implementation of the European Critical Raw Materials Act, the European Commission has launched a call for strategic projects. The focus of these projects may involve primary mineral resources but also refining or recycling.
The use of the UNFC mineral-resource classification system, developed by the United Nations (UNECE), is one of the prerequisites for strategic projects, which need to be self-classified. This webinar presents the main points and details of this classification system.
What is the UNFC?
The UNFC is a European tool for classifying raw-material production projects. The tool provides a system for establishing a standardised, international classification of energy and mineral resources, including critical materials from primary and secondary production. This allows investors to quickly and accurately understand the characteristics of critical-materials projects in terms of available resources, reserves, development stages, etc. The UNFC provides information about the technical and economic viability of projects, as well as the environmental and social impacts taken into account, which is essential for investors, who need to be able to assess the feasibility and profitability of critical-materials projects.
Using the UNFC also makes it easier to compare critical-materials projects between different regions and countries.
The UNFC complies with international standards and recommendations, which therefore increases investor confidence in critical-materials projects classified according to this standard. To this end, the UNFC provides a standardised, holistic assessment framework for critical-materials projects, making it easier for investors to monitor strategic market developments and take informed decisions, resulting in better risk management and a more efficient allocation of financial resources.
