Brussels, 19 March 2025 – The European Precious Metals Federation (EPMF) welcomes the Commission’s drive to create a European Steel and Metals Action Plan in order to strengthen Europe’s economic security, resilience, and strategic autonomy on the global stage. The text proposed today, however, is a missed opportunity to fully unlock the metals sector’s potential in driving the green and digital transition.
 
As the voice of the precious metals industry, we are taken aback that precious metals have been excluded from the scope of the Plan. The Commission has reasoned that precious metals are produced in small volumes and are often critical raw materials, therefore falling under the scope of the Critical Raw Materials Act (CRMA). On the contrary, only Platinum Group Metals (PGMs) are critical raw materials; Gold and Silver are not.
 
“The fact is that Europe’s industry cannot decarbonise without precious metals. Platinum group metals, gold and silver are crucial components in the production of hydrogen and the electrification of grids, to give just two basic examples,” said France Capon, Secretary General of the European Precious Metal Federation.
 
“By excluding precious metals from the Plan, the commission is setting up European industry for failure,” she added.
 
Precious metals are crucial for decarbonisation. They are essential components for countless green technologies, renewable energy, batteries, and storage, and emissions reduction applications, including electric vehicles. What’s more, PGMs are critical elements in catalysts for hydrogen production and silver in electric grids, both of which have been identified in the Steel and Metals Action Plan as key issues for industrial electrification and the security of the metals sector. Therefore, more generic measures outlined in the plan, such as access to grids and affordable energy prices, as well as circular economy provisions like those on access to scrap metals, must also apply to precious metals.  
 
All metals are essential for the reindustrialisation and decarbonisation of Europe. Precious metals, despite their small volume, have a big role to play in achieving the aims of the EU’s Clean Industrial Deal and Steel and Metals Action Plan. We urge the Commission to set clear objectives and guidelines for all metals, including precious metals, to ensure regulatory certainty and guarantee their uptake, circularity, and contribution to a strong, resilient, and green European industrial sector.