Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, what estimate he has made of the amount of private capital expected to be leveraged as a result of the UK–US critical minerals partnership over the next five years.

We do not have concrete estimates for private capital that will be leveraged and note that the MoU will serve to advance UK projects beyond just investment, including potential offtake agreements with US industry. In 2024, the UK exported around £2 billion worth of critical minerals and their immediate derivatives to the US, whilst importing around £1 billion originating from the US.