The Parliamentary Under-Secretary of State for Business and Trade (Chris McDonald)
Today the Government have published their new critical minerals strategy.
Growth is the No. 1 mission of this Government, and the modern industrial strategy is central to that mission. This critical minerals strategy follows on from the June publication of the industrial strategy, which confirmed critical minerals as a foundational sector for a number of growth-driving sectors, such as advanced manufacturing, clean energy industries and defence.
It sets out our long-term plan for securing critical minerals to drive economic growth and the clean energy transition, harnessing our competitive advantage in midstream processing and recycling, which builds on the UK’s distinct pockets of mineral wealth and deep mining history. The UK has Europe’s largest lithium deposit, in Cornwall, as well as one of the largest nickel refineries in Europe, which is in Clydach, Swansea. It also has one of the largest sources of tungsten globally; and the only western source of rare earth alloys used in the magnets found in wind turbines and F-35 fighter jets. Optimising domestic production and collaborating strategically with international partners will create well-paid jobs and boost UK resilience.
The strategy sets our ambition on domestic production, recycling and diversifying our sources of imports. Together they provide a clear direction that guides progress and clearly signals the UK’s ambition to realise its long-term vision for critical minerals, supporting the wider industrial strategy.
Defence is a key growth-driving sector as identified in the industrial strategy. A secure supply of critical minerals is crucial not just for economic growth, but also to national security. To ensure this, the Government will also consider establishing mechanisms to build resilience in our defence sector. This includes considering stockpiling by industry of critical mineral resources through Government procurement mechanisms—helping in this way to ensure that our supply chain is fit for the future and for our national security.
Alongside support from the National Wealth Fund and UK Export Finance, following the spending review 2025 we have up to £50 million to support critical mineral projects pioneer research and scale up innovation, which in turn will strengthen our supply chains. Further details will be announced in 2026.
The Government have engaged widely through the development of this strategy, working in partnership with industry, experts and the devolved Governments across the UK.
I am placing a copy of the strategy in the Libraries of both Houses.
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