en.Wedoany.com Reported - On June 22, 2026, the UK government announced an investment of £50 million (approximately $66 million) to enhance domestic critical minerals production capacity, reduce reliance on highly concentrated global supply chains, and strengthen economic resilience. This funding builds on commitments already exceeding £200 million. The funds will be used for full-chain projects including mining, processing, and recycling, ensuring the supply of raw materials for products such as smartphones and electric vehicle batteries.

UK Industry Minister Chris McDonald will launch the initiative during a visit to an industrial research center in Northeast England, which is advancing metal recycling and processing technologies. McDonald emphasized: "Critical minerals are vital to national security." Recently, the UK's first commercial rare earth magnet factory in 25 years began operations in Birmingham, operated by HyProMag, a subsidiary of Mkango Resources, producing electric motor magnets using recycled materials.

The new funding will be divided into three parts: £20 million for establishing a rare earth magnet hub, £25 million for a project acceleration program, and up to £5 million for building a demand aggregation platform to attract private investment. The UK is also collaborating with allies such as the United States and South Korea to promote supply diversification.

Rare earth elements are key raw materials for high-tech products including electric vehicles, wind turbines, and smartphones, with global supply highly concentrated in China. This UK investment is a crucial part of its critical minerals strategy, aiming to build domestic full-chain capabilities from mining, processing, to recycling. HyProMag's magnet recycling technology can extract rare earth materials from waste electronic products, enabling resource circularity. This additional funding will accelerate the UK's deployment in rare earth magnet manufacturing, metal recycling technology, and supply chain integration, enhancing its autonomous supply capabilities for raw materials in high-tech industries.

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