Households and businesses set to benefit from stronger, more secure supply chains as the UK invests £50 million in critical minerals essential for everyday products – from smartphones and fridges to electric vehicles.
The funding will boost domestic production, support high-value jobs and reduce the UK’s reliance on overseas imports, helping to protect the economy from global shocks and supply disruptions.
With global supply chains increasingly concentrated and vulnerable to disruption, the UK has for too long relied heavily on a small number of international suppliers. This investment marks decisive action to strengthen economic resilience, secure vital materials and support long-term growth as part of the Government’s Industrial Strategy.
The Critical Minerals Strategy will back British companies to accelerate the extraction, processing and recycling of critical minerals, while investing in cutting-edge manufacturing capability and attracting private investment into the UK.
Today (22 June), Industry Minister Chris McDonald will visit Teesside’s Wilton Centre to officially launch the Government’s programme to industry and tour Seloxium and DEScycle – two cutting-edge firms advancing critical minerals processing and metal recycling.
Industry Minister Chris McDonald said:
“Critical minerals are vital for our national security, and this targeted funding will support companies in ramping up domestic production, helping to create new jobs and opportunities in local communities, whilst building more resilient supply chains.
“Through our Critical Minerals Strategy, we’re leveraging Britain’s mineral wealth, attracting new investment and forming dynamic relationships with partners across the world to boost our economic security.”
Founder of the Critical Minerals Association Jeff Townsend said:
“The UK Government has taken important steps to strengthen the critical minerals sector. As attention turns from policy development to delivery, it is encouraging to see the £50 million grant programme being used to accelerate strategically important UK projects as they reach maturity.”
As the home to Seloxium, Wilton Centre sits in the heart of the North-East of England Process Industry Cluster. Building on its strong industrial heritage, the North East offers expertise in the recycling, processing and recovery of critical minerals alongside growing lithium development.
The funding programme will be delivered through three distinct pillars:
- Magnet Hub: £20 million to establish a world-class national facility to develop, test and scale up rare earth magnet manufacturing, alongside skills and training capabilities.
- Critical Minerals Accelerator: £25 million to support collaborative projects across extraction, processing and recycling of critical minerals, accelerating innovation and commercialisationopportunities.
- Demand Aggregation Platform: a new up to £5 million platform to help UK industry consolidate and pool its critical mineral demand across different industries, unlock investment and secure supply through strategic partnerships.
Together, these measures will help grow the UK’s domestic capability across the critical minerals value chain, and builds on over £200 million of funding already provided including through the National Wealth Fund, DRIVE35 and the UK Shared Prosperity Fund. A secure supply of critical minerals is vital for the UK’s economic growth and security, Industrial Strategy, and clean energy transition – and the Critical Mineral’s Strategy paves the way to creating resilient supply chains that will help protect British industry during a time of global instability
