The EU passed regulations designed to create a “circular economy” in July last year. That includes mandatory minimum levels of recycled materials for EV and industrial batteries by 2031. Brussels is targeting 65% of the weight of lithium-ion batteries to be recycled by the end of 2025. The ability to recycle battery metals and “close the loop” on their life cycle will help ease the need for virgin materials, especially given Europe’s lack of domestic mining supply. The DRC supplied around 70% of the world’s mined cobalt last year, while Australia accounted for almost 60% of mined lithium. The European Commission expects lithium-ion battery demand to increase 14-fold by 2030 on the back of rising EV adoption, with the bloc to account for 17% of that demand. The EU will ban internal combustion engine cars and vans in 2035.