This thesis describes the importance of Critical Raw Materials and their value chain within the EU`s economy. Critical Raw Materials are crucial for the EU ¿s technological development. As Critical Raw Materials are always connected to a huge supply risk. This mentioned development could be in dange, if suppliers stop their imports into the EU. This would result in a financial, technological and social disadvantage towards other modern industry states and it would decrease the EU ¿s competitiveness on worldwide trade markets. The goal is to gain information through a literature review on how and where two Critical Raw Materials, namely lithium and cobalt could be extracted within the EU taking into account primary and secondary extraction. Furthermore, the goal is to identify opportunities for substituting these materials in their main areas of industrial application and to decrease dependency on import from non EU-countries. As a result, substitution possibilities of lithium and cobalt in batteries are presented as well as possibilities to mine such raw materials within the EU. The substitution of lithium in batteries for example, can be proceeded with the non-Critical Raw Material sodium while the substitution of cobalt is already implemented with so called LFPs (Lithium-Iron- Phosphate-Battery). Further, huge mineable lithium and cobalt deposits such as the Iberia or the Kevitsa project are listed as primary raw materials suppliers within the EU. The findings of this thesis help to support the EU ¿s way towards raw material independency on the world¿s lithium and cobalt markets.