UK risks falling behind on critical minerals

The UK is giving increasing importance to its critical materials strategy, but risks falling behind in the race to bolster supply chains, attendees at the Critical Metals and Minerals Conference in London heard today.

The UK's strategy to secure critical materials needed for the energy transition was at the centre of the conversation today — days after the EU outlined its proposed Critical Materials Act, which aims to ensure member states have access to "secure, diversified, affordable and sustainable" supply.

"The UK is not where it should be," said Baroness Lindsay Northover from the House of Lords' Critical Minerals All-Party Parliamentary Group. "The EU has many gigafactories up and running or in the pipeline, while we have struggled with Britishvolt."

Baroness Northover warned that the UK has its "own special challenge with our relationship with the EU post-Brexit. We need to have our own supplies of critical minerals here in the UK". She added that "the world is chasing the same minerals and China is well ahead of us".

The significance of critical minerals has only recently emerged on the political radar, she said, noting that the UK's critical minerals list was updated last week in response to a "more volatile and contested world". But greater funding is needed for the UK to compete globally, she said. "The government is saying many of the right things, but needs a serious and well-funded strategy."

This was echoed by many conference speakers and attendees, who spoke of a funding and investment "drought". "Demand has never been more urgent, but we are having problems with project funding. There is a shortage of supply and funding," Australian trade commissioner Ana Nishnianidze said.

Permitting for new developments also remains a major barrier to bolstering supply chains and reducing reliance on China. "It shouldn't take decades to develop a mine. It has taken 16 years to develop a tin mine in Cornwall, but just four years to develop a lithium mine in Pilgangoora [in Australia]. [The UK] is a country that struggles to approve a solar project on a brownfield site," said Alex Simakov, senior research fellow at London-based think-tank Policy Exchange.

By Sian Morris and Cristina Belda