UK Government announces investment in critical minerals projects
IOM3 highlights circularity and skills as key to critical minerals success.
We welcomed the UK Government’s announcement of a £50 million investment programme to strengthen domestic critical minerals supply chains, support recycling and processing capabilities, and reduce reliance on imports. The funding forms part of the Government’s Critical Minerals Strategy and aims to boost the UK’s economic resilience, resource security and industrial growth.
Commenting on the announcement, Dr Colin Church CEnv FIMMM, CEO of IOM3, said:
It is good to see UK Government investment in securing the vital supply chains that underpin the UK’s economic resilience and industrial future.
The focus on greater circularity and developing midstream capacity is particularly welcome. As previously highlighted by IOM3, these are strategic areas where the UK has significant potential to build competitive advantage, strengthen resource security and reduce supply chain vulnerabilities.
As the UK strengthens its critical materials resilience, continued investment in skills, education and professional development will be vital. As highlighted in the Institute's The Talent Gap: Critical Skills for Critical Materials report, addressing skills gaps and building a sustainable talent pipeline across materials, minerals and mining will be essential to ensuring the UK has the expertise required to deliver secure, resilient and competitive supply chains.
The Government’s package includes funding for a national rare earth magnet hub, critical minerals extraction, processing and recycling projects, and initiatives to strengthen UK demand aggregation and supply chain resilience.
