This Week in Mining — Brussels (#18, 2026)
Commission consults on updated EU ETS benchmarks; Competitiveness Council meeting scheduled.
May 10, 2026 to May 16, 2026
Commission consults on updated EU ETS benchmarks; Competitiveness Council meeting scheduled.
📋 In This Week's Newsletter
• 🇪🇺 European Commission
• 🤝 EU Council
• 📚 What We're Reading This Week
European Commission
Commission launches consultation on updated EU ETS benchmark values for 2026-2030
The European Commission has published proposed benchmark values for the European Union Emissions Trading System (EU ETS) for the period 2026-2030, opening a four-week public and Member State consultation. The updated benchmarks will determine the level of free allocation of allowances for European industry, with the proposed values covering approximately 75% of emissions on average. The approach maintains coverage of indirect emissions from electricity use across 14 product benchmarks, resulting in a financial impact of about €4 billion over the five-year period. The Commission intends to adopt the benchmarks by implementing act by the end of June, following scrutiny by the Climate Change Committee. Sector-specific fallback benchmarks are planned as part of the upcoming EU ETS revision. President Ursula von der Leyen announced an ETS investment booster in March 2026, intended to finance industrial decarbonisation projects. The Commission will review the EU ETS in July 2026 to assess its fitness for the future.
EU Council
Competitiveness Council schedules meeting on Internal Market and Industry
The Competitiveness Council (Internal market and Industry) will convene on 28 May 2026.
What We're Reading This Week
- The 5 Strategic Projects Quietly Defining the Next Decade of West's Critical Minerals Supply – Company Announcement: Major investments in overlooked mining and processing initiatives are set to reshape Western access to critical minerals over the next decade.
- China still drags its feet on rare earths sometimes, says Greer: China maintains a cautious approach to rare earth exports, impacting global supply chains and market stability, Greer observes.
