Question to the Department for Business and Trade:

To ask the Secretary of State for Business and Trade, if he will review the UK Export Finance model to ensure that financial support available to overseas critical minerals projects is accessible to UK-based critical minerals producers.

In addition to its critical minerals supply finance facility, which guarantees a commercial loan to an overseas project which has an offtake agreement in place with a UK exporter, UK Export Finance (UKEF) can support UK-based critical minerals producers in a variety of ways. These include through its Export Development Guarantee and General Export Facility if the company is an exporter, and also in certain circumstances where the producer in question supplies UK exporters.

Through these two products, UKEF can provide guarantees to commercial loans for working capital, which can be used to pay suppliers or staffing costs, invest in research and development or support bids for higher value contracts.