UK Unveils Critical Minerals Plan to Cut Rare Earth Imports

The UK government has launched a £50 million critical minerals strategy aimed at slashing dependence on foreign rare earth imports by 2035. Backed by new funding, the plan caps any single-country supply at 60% for key minerals and targets 10% domestic production and 20% recycling. Prime Minister Keir Starmer described critical minerals as “the backbone of modern life,” highlighting their use in electric vehicles, renewable energy, and military hardware. The strategy sets a goal of producing 50,000 tons of lithium domestically and prioritizes nickel, tungsten, and rare earths. With China currently supplying about 70% of rare earth mining and 90% of refining, the UK aims to reduce geopolitical risk and price volatility. Industry leaders from Ionic Rare Earths and Vale Base Metals, along with academics from the University of Birmingham, have welcomed the move. The plan also anticipates a surge in demand—lithium by 1,100% and copper nearly doubling by 2035—underscoring the push for secure, long-term supply chains.