A secure supply of critical minerals is vital for the UK's economic growth and security, industrial strategy, and clean energy transition. UK government will publish a new Critical Minerals Strategy this year, helping to secure our supply of critical minerals for the long term and refining our approach to optimising our domestic production. This capability assessment relates to the opportunities for optimising UK domestic capability and identifying areas for collaboration.
The Department for Business and Trade (DBT) has commissioned Frazer-Nash Consultancy in partnership with the Critical Minerals Association (CMA) and the Materials Processing Institute (MPI) to carry out an assessment of the UK’s capability in midstream processing, and the recycling and recovery of critical minerals.
The critical minerals supply chain faces unprecedented challenges as a result of increasing demand for critical mineral rich technologies such as wind turbines, solar panels and electric vehicles—which is largely driven by the Government’s commitment to transition towards a net zero economy. Presently, the UK is reliant on an international supply chain to supply the majority of critical minerals it requires. Moreover, this international supply chain is dominated by a handful of countries including China and Russia, increasing concerns about supply chain security. Furthermore, the UK’s limited comparative capability to produce critical minerals domestically may constrain its capacity to influence global markets. This creates a situation where the UK is heavily dependent on imported materials to meet its net zero ambitions and energy security requirements. As a result, the UK government must act to secure supply chains and deliver economic security to the country.
Read the full report below.
Source: UK Government https://www.gov.uk/government/publications/uk-critical-minerals-midstream-and-recycling-capability-report