Resilience for the future: The UK’s critical minerals strategy

Country / jurisdiction: United Kingdom · Year: 2022 · Status: In force · Level: National · Type: Voluntary

The UK’s Critical Minerals Strategy is a strategic plan that aims to secure the country's supply chains of critical minerals by boosting domestic capability in a way that generates new jobs and wealth, attracting investment and playing a leading role in solving global challenges with international partners.

The strategy's main objectives are:

to accelerate growth of the UK’s domestic capabilities by maximising domestic production, carrying out research and development and accelerating a circular economy of critical minerals through recovery, reuse and recycling;

to collaborate with international partners by diversifying supply, supporting UK companies overseas to participate in diversified and transparent supply chains and developing diplomatic, trading and development relationships to improve resilience of supply in the UK;

to enhance international markets to make them more responsive, transparent and responsible by boosting ESG performance, improving data and traceability and championing London as the world's capital of responsible finance for critical minerals.

The UK's mineral strategy also announced British Geological Survey's definition of a cohort of minerals with high criticality for the UK, as well as a watchlist of minerals not yet critical but increasing in criticality.

Official source: https://www.gov.uk/government/publications/uk-critical-mineral-strategy/resilience-for-the-future-the-uks-critical-minerals-strategy