Britain will invest £50 million ($66 million) to expand domestic production of critical minerals, as part of efforts to reduce dependence on global supply chains and strengthen economic resilience, the government said on Monday.
The funding will support projects spanning extraction, processing and recycling of materials used in technologies such as smartphones, refrigerators and electric vehicle batteries.
The initiative comes as Western economies seek to secure supplies of critical minerals, amid concerns over the concentration of global production and processing capacity.
Industry minister Chris McDonald is expected to formally launch the programme during a visit to an industrial research hub in north-east England, where firms are developing technologies focused on metal recovery and advanced processing.
The package builds on more than £200 million already committed to the sector, according to the government.
Officials said the new funding will be divided into three main areas: £20 million for a rare earth magnet hub, £25 million for an accelerator programme to scale up projects, and up to £5 million for a platform aimed at aggregating industry demand and attracting private investment.
The move reflects growing concern over reliance on concentrated supply chains, particularly China’s dominant position in the critical minerals sector.
China accounts for around 70% of global rare earth mining and roughly 90% of processing capacity, according to industry estimates widely cited by governments and international agencies.
Critical minerals are considered essential for modern manufacturing and national security, with demand rising sharply due to the expansion of electric vehicles, renewable energy systems and advanced electronics.
Britain has already taken steps to strengthen domestic capacity, including the launch of its first commercial rare earth magnet facility in 25 years, operated by Mkango Resources’ HyProMag unit in Birmingham.
The plant uses recycled materials to produce magnets for electric motors and other applications.
The government has also pursued international partnerships with allies including the United States and South Korea, focusing on collaboration in supply chains, processing technology and investment in critical minerals infrastructure.
Officials said the latest funding is intended to accelerate domestic capability while encouraging private sector investment in a strategically important industry.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic miss...
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concer...
Country music legend Dolly Parton, whose songs, unmistakable style and warmth made her one of America’s most enduring entertainers, has died ...
Ukraine’s President Volodymyr Zelenskyy said on Monday that Kyiv wants peace but will not surrender to Russia, as foreign leaders joined Independence Day events marking 35 years since Ukraine’s independence.
Oil prices fell after the U.S. expanded economic sanctions on Iran, as Tehran vowed to retaliate and warned it had tools to respond, raising concerns over potential disruption to regional oil supplies.
Only four commodity vessels crossed the Strait of Hormuz on Sunday, following 13 transits a day earlier, as disruptions continue to restrict traffic through the key energy chokepoint.
A newly created pro-government political party has secured a commanding victory in Kazakhstan's snap parliamentary election, according to exit polls, strengthening President Kassym-Jomart Tokayev's influence at a pivotal moment in the country's political transition.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Kyiv has recently received a small number of U.S.-made Patriot interceptors capable of downing Russian ballistic missiles, Ukrainian President Volodymyr Zelenskyy has said. It comes as Britain and France pledged stronger military support for Ukraine.
Canada has announced nearly $20 billion in retaliatory tariffs on U.S. goods and billions in support for workers and businesses, escalating its trade dispute with Washington after President Donald Trump's latest duties took effect.
Pakistani exporters are facing soaring shipping costs to the U.S., with freight rates more than tripling on some routes as the Iran-U.S. conflict drives up war-risk insurance and fuel costs.
The trial of a Libyan man accused of building the bomb that destroyed Pan Am Flight 103 over the Scottish town of Lockerbie in 1988, killing 270 people, has been postponed by a U.S. federal judge.
France and Saudi Arabia have agreed on plans for a $7 billion manga-themed amusement complex near Paris, inspired by the hugely popular Japanese franchise Dragon Ball Z.
You can download the AnewZ application from Play Store and the App Store.
What is your opinion on this topic?
Leave the first comment