The UK Government unveiled its new national critical minerals strategy, an initiative that sets the course towards 2035 with the aim of ensuring stable access to essential resources such as lithium, cobalt, nickel, rare earths and other metals for the energy transition and the digital economy.
The document, entitled “Vision 2035: Critical Minerals Strategy”, sets ambitious targets. For the next decade, the country aims to cover at least 10% of its domestic demand with domestic production and to achieve an additional 20% through recycling, thus reducing the current heavy dependence on international suppliers.
Strategic priorities of the plan
The British government identified three fundamental pillars:
- Ensure resilient supply chains in the face of geopolitical tensions and international competition.
- Promote national mining projects, from exploration to refining.
- Promote recycling and circular economy of critical minerals to reduce environmental impact.
These actions are part of a broader approach to economic, industrial and energy security, where control over materials becomes strategic.
Participation of public, private and academic stakeholders
The plan will be implemented by multiple government agencies such as the Department for Business and Trade, the Ministry of Defense, UK Export Finance and the Office for Investment. It will also be supported by research centers such as the British Geological Survey, the University of Exeter and the Critical Minerals Intelligence Centre.
At the private level, more than 50 projects linked to critical minerals are already underway in the country. Companies such as Cornish Lithium, Altilium and Green Lithium are leading extraction, recycling and technological development initiatives.
A matter of national security
The international context has accelerated the need for a strategy of its own, since the growing global demand for these minerals, together with the concentration of their supply in countries such as China, generates risks of shortages.
For this reason, the United Kingdom is seeking to establish strategic alliances with Canada, Australia, the United States, India, Japan and the European Union, and participating in forums such as the G7, the International Energy Agency and the Minerals Security Partnership.
London as a financial center for the sector
In addition to the production aspects, the government highlights the role of the City of London as a global financial center for metals trading. Institutions such as the London Metal Exchange (LME) and the London Stock Exchange (LSE) will facilitate financing and risk hedging for companies in the sector.
The use of financial instruments associated with materials such as lithium, cobalt and rare earths is expected to increase.
Towards a sovereign energy future
The British critical minerals strategy reflects how control of strategic natural resources is no longer just an economic issue, but also a geopolitical and technological one.
With Vision 2035, the UK not only seeks to protect its supply, but also to lead the global race to a low-carbon economy by strengthening its industrial and scientific base.
Source: United Kingdom Government