The new Critical Minerals Strategy sets out the ambition to produce 10% of the UK's mineral needs domestically and 20% through recycling by 2035.
By 2035, at least 50,000 tonnes of lithium - more than the weight of the Titanic - are expected to be produced in the UK.
Up to $50 million of funding will support UK businesses by accelerating critical minerals projects and strengthening domestic production and processing to help keep the UK ahead of global competition.
UK supplies of vital materials that power everyday essentials such as smartphones and refrigerators are set to be strengthened as the Prime Minister today launches the UK's new Critical Minerals Strategy. [22November].
The strategy, with up to 50 million new funds, will aim to reduce the UK's over-reliance on overseas imports of essential minerals essential to everyday life by increasing domestic production to protect the UK from shortages caused by global shocks such as natural disasters or war.
The move comes as the government doubles down on strengthening supply chains as part of its national security drive.
China now dominates global production and supply chains of critical minerals, controlling 70% and 90% of rare earth mining and refining respectively, leaving the UK vulnerable to over-reliance on a small number of exporters to supply the materials needed to power devices such as electric vehicles and wind turbines.
But in the UK alone, demand for copper, which is used in household electrical plugs and car brakes, is set to almost double by 2035, while demand for lithium, essential to power laptops and electric cars, will increase by 1,100%.
That is why the Government is taking decisive action to ensure that no more than 60% of UK supplies come from any one country by 2035.
The strategy will see the Government work with industry to leverage the UK's world-leading capabilities through Europe's largest lithium reserves in Cornwall, one of the world's largest sources of tungsten, one of the largest nickel refineries in Europe at Clydach, Swansea and the West's only source of rare earth alloys used in wind turbines and magnets used in magnets used in wind turbines and the F-35 fighter jet, among others.
This will help the UK meet 10% of demand through domestic production, with 20% coming from product recycling for mineral recovery. It is the first time the UK has set out clear and practical ambitions to increase domestic production and recycling and reduce dependence on third countries.
Prime Minister Keir Starmer said:
Critical minerals are the backbone of modern life and national security, powering everything from smartphones and fighter jets to electric vehicles and wind turbines.
For too long the UK has been dependent on a small number of overseas suppliers, leaving our economy and national security exposed to global shocks.
That's why we're taking decisive action to change this - by increasing domestic production, increasing recycling and supporting the investments needed to help British businesses compete on the international stage and lower the cost of living for people at home.
Industry Minister Chris McDonald said:
We need vital minerals for everything from the phones we use to the cars we drive. For too long we have been dependent on just a few specific suppliers for our mineral supplies, putting our national security at risk.
Now, as part of our plan for change, we have taken the bold steps needed to strengthen our supply chains, increase domestic production, and support businesses with the investments they need to create new jobs and fuel growth.
The new strategy also has the ambition to produce at least 50,000 tonnes of lithium in the UK over the next 10 years, more than the weight of the Titanic (about 46,000 tonnes).
The Government will deliver on its strategy by supporting UK companies to expand and grow production through a strong public finance offer, including up to $50 million in funding to revitalize major mineral projects and investment through the National Wealth Fund and UK Export Finance.
In September, the National Wealth Fund announced a $31 million commitment to Cornish Lithium to advance the Trelavour Lithium project to a construction decision and the Cross Lanes geothermal lithium project to commercial drilling.
Additionally, businesses' industrial electricity costs will be cut through the government's British Industrial Competitiveness Scheme (BICS), which will encourage businesses to grow and drive new investment into the UK. The government will soon begin a consultation on BICS eligibility.
To achieve the strategy's bold goals, the Government will support licensing for innovative projects in domestic production and recycling through the Environment Agency's Priority Tracking Service and work with Skills England and the Department for Work and Pensions to support the skills needed to achieve the strategy's objectives in England.
For the first time, the new Critical Minerals Strategy focuses on economic growth in line with the Government's wider growth plan, and identifies critical minerals as a fundamental sector of the Modern Industrial Strategy.
The critical minerals sector contributes $1.79 billion to the UK economy and directly supports more than 50,000 jobs. There are currently more than 50 critical minerals projects in the UK aimed at extracting and refining these essential substances.
There are significant resources across the North East of England, in key areas including Counties Durham and Teesside, South Westin Devon and Cornwall.
JamieAirnes, CEO of Cornish Lithium, said:
We welcome the publication of the UK Government's Critical Minerals Strategy, which provides a clear strategic framework within which industrial-scale production of UK critical minerals can become a reality. The strategy highlights the need to accelerate domestic capacity, stimulate investment and build strategic partnerships essential to delivering lithium production at scale.
Securing domestic supplies of critical minerals, including lithium, will create high-quality jobs, improve supply chain resilience and support key manufacturing sectors across the UK. We look forward to working closely with government and industry partners to put this strategy into action.
Jeff Townsend of the Critical Minerals Association said:
We welcome the Government's renewed commitment to securing the critical minerals that underpin the UK's industrial strategy and future economic resilience. This strategy represents an important and timely advance that recognizes that modern industries - from advanced manufacturing to defence, clean energy and high-tech innovation - are only as strong as the minerals and materials they depend on.
We recognize that this strategy will unlock growth and investment opportunities for the UK's leading minerals companies, as well as the hundreds of thousands of jobs and sectors that depend on them. If purposefully and fully supported and implemented, this strategy can secure the UK's position as a trusted global partner and leader in the technologies that will define the coming decades.
The Critical Minerals Association stands ready to support this implementation and ensure its success.
Tom McCulley, CEO of Anglo American Crop Nutrients, said:
Metals and minerals are fundamental to the energy transition, improving living standards, and food security. It is important that the UK has a clear strategy in terms of its supply of vital metals and minerals, as well as the opportunities the UK's own resource holdings offer for economic growth.
With London at the center of global mining finance, the UK has the opportunity to stimulate investment and growth through partnerships along the value chain and the emergence of the UK's own modern mining industry.
The new strategy will commit up to $50 million to support projects across the country, including expanding research and innovation to extract and refine critical minerals and helping companies commercialize and scale their projects.
The Government has already supported more than 165 million critical minerals operations across the UK, and together with support from the National Wealth Fund, UK Export Finance and other public finance streams, this funding will help boost the growth of the sector across the country and keep the UK ahead of the global race to secure supplies of these minerals.
To strengthen resilience and national security, the Government will review reserves, including defense procurement, to strengthen the UK's supply of critical minerals for UK defense, in line with the wider use of advanced military hardware.
The UK is a member of the NATO Critical Minerals Reserves project, which is considering potential options for establishing, procuring and maintaining stockpiles of critical minerals, raw materials, components such as magnets and battery cells, and recycled materials.
The Government will also continue to pursue partnerships with resource-rich, like-minded countries around the world to diversify the UK's supply chains for critical minerals, leveraging the UK's world-leading qualifications in academia, R&D, finance and trade to increase growth opportunities for UK businesses at home and abroad.
The new strategy will be critical to achieving the UK's Modern Industrial Strategy objectives. Every key sector in the UK is supported by the Industrial Strategy - from advanced manufacturing to clean energy, which relies on a steady supply of critical minerals, including aircraft engines and semiconductors.
Scotland can put critical minerals resilience at the forefront of its commitments to achieve net zero and create a more circular economy, while Wales can benefit across the country by maximizing the geology and skills of its workforce to manufacture retained nickel and titanium products today.
And in Northern Ireland, pioneering research at Queens University Belfast and collaborations with companies such as Ionic Technologies are finding new ways to recycle permanent magnets used in applications ranging from wind turbines to vehicles.
end
Notes to editors:
Tim Harrison, Managing Director of Ionic Rare Earths Limited, said:
With the publication of the Critical Minerals Strategy, the Government is sending a strong message about the importance of critical minerals to national growth, prosperity and security.
We welcome the strategy of focusing on domestic capabilities and the recognition of Belfast, where Ionic Technologies operates, as part of an important minerals cluster. Our patented magnetic recycling and rare earth element separation technologies are becoming increasingly important in protecting the security of the UK's rare earth supply chain.
There has never been a more important time for governments to support companies impacting critical minerals supply chains.
Vale Base Metals, Darren Poland, General Manager UK Operations:
As an important part of Britain's midstream through our Clydach Nickel Refinery in Wales, we recognize that vital minerals are the foundation of modern industry and trade.
We welcome the UK's efforts to strengthen its domestic ecosystem and work with global suppliers to secure critical minerals such as nickel for future growth.
Professor Allan Walton, Co-Director of the University of Birmingham's Center for Strategic Elements and Critical Materials (BCSECM) and Director of Hypromag Ltd, said:
We are pleased that the new Critical Minerals Strategy focuses on midstream processing and the circular economy, where the UK has significant strengths, particularly in the rare earths value chain.
The University of Birmingham's Center for Strategic Elements and Critical Materials and Hypromag Ltd recently began manufacturing rare earth magnets in the UK for the first time in 25 years using recycled end-of-life products.
This process means new magnets can be manufactured at a very low cost and with a very small environmental footprint compared to other recycling options. Our activities in magnets and other critical materials are perfectly aligned with the new focus of our Critical Minerals Strategy.
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