A Comparative Analysis of the Critical Minerals’ Regulatory Framework and Governance in the United States and European Union

There has been a significant escalation in the demand for critical minerals, in line with net-zero and energy transition goals, driven by the rise of electric vehicles, batteries, and renewable energy. This rapid increase in demand, coupled with geopolitical tensions, is impacting the raw material supply chains of strategic industries. In response, both the US and EU are formulating various legislative measures to ensure a stable supply chain and facilitate their domestic markets. The supply chain for these critical minerals requires close cooperation between various sectors such as industry, diplomacy, and trade, highlighting the need for an effective governance system for successful policy implementation. This study outlines the legislative timelines in the US and EU and examines their governance structures, specifically for the critical mineral supply chain. The comparative analysis presents the current status and challenges of governance, as well as strategies for a robust governance system in South Korea.