Wedoany.com Report-Nov. 25, The United Kingdom has launched a comprehensive Critical Minerals Strategy to strengthen domestic supply chains for materials essential to modern technologies and national security.

Critical minerals currently add $2.34bn (£1.79bn) to the UK economy.

Announced by Prime Minister Keir Starmer, the strategy sets clear targets for 2035: meeting at least 10 percent of demand through UK production, 20 percent via recycling, and ensuring no single country supplies more than 60 percent of any individual critical mineral.

The plan is supported by up to £50 million in new funding, adding to more than £165 million already invested in UK critical minerals projects. Additional resources will come from the National Wealth Fund and UK Export Finance.

Prime Minister Keir Starmer stated: "Critical minerals are the backbone of modern life and our national security – powering everything from smartphones and fighter jets to electric vehicles and wind turbines.

"For too long, Britain has been dependent on a handful of overseas suppliers, leaving our economy and national security exposed to global shocks.

"That is why we are taking decisive action to change that, boosting domestic production, ramping up recycling, and backing British businesses with the investment they need to compete on the international stage and drive down the cost of living for people at home."

Lithium has been identified as a priority, with a goal to produce at least 50,000 tonnes domestically within the next decade, driven by projected demand growth of 1,100 percent by 2035. Copper demand is expected to nearly double over the same period.

Industry Minister Chris McDonald said: "We need critical minerals for everything – from the phones we use to the cars we drive – and for too long we have been dependent on a select few sources for our supplies of them, putting our national security at risk.

"Now, we are taking the bold action needed to shore up our supply chains, ramp up domestic production and back businesses with the investment they need to create new jobs and drive growth, as part of our Plan for Change."

The government will also explore strategic stockpiling options, including through defence procurement and continued participation in NATO’s Critical Mineral Stockpiling project.

Cornish Lithium CEO Jamie Airnes welcomed the strategy, stating: "We welcome the publication of the UK Government’s Critical Minerals Strategy that provides a clear strategic framework within which industrial-scale UK critical minerals production can become a reality. The strategy highlights the need to accelerate domestic capability, unlock investment and build strategic partnerships – all of which are essential to delivering lithium production at scale."

"Securing a domestic supply of critical minerals, including lithium, will create high-quality jobs, deliver supply chain resilience and support key manufacturing sectors across the UK. We look forward to working closely with government and industry partners to turn this strategy into action."

Currently, the critical minerals sector contributes £1.79 billion to the UK economy and supports over 50,000 jobs, with more than 50 extraction and refining projects already in development. The new strategy aims to accelerate these initiatives and establish a more secure, diversified, and sustainable supply base for the future.