UK to invest $66 million in critical minerals to reduce import reliance

Britain will invest £50 million ($66 million) to boost domestic production of critical minerals, the government said on Monday, as it seeks to reduce reliance on concentrated global supply chains and strengthen economic resilience.



The funding will support projects across extraction, processing and recycling, aimed at securing materials used in products ranging from smartphones and fridges to electric vehicle batteries.



The move builds on more than £200 million already committed to the sector.



Industry minister Chris McDonald was set to launch the programme during a visit to a hub for industrial research in northeast England, where companies are developing technologies for metal recovery and processing.



Britain is stepping up efforts to secure supplies of critical minerals as demand rises and China retains a dominant position, accounting for about 70% of rare earth mining and 90% of refining.