拢15 million funding boost to strengthen supply of critical minerals
Tonnes of rare earth elements - essential for technology such as electric vehicles and wind turbines 바카라 사이트� could be recycled in future thanks to 拢15 million of government funding for cutting edge research.
- 拢15 million boost for critical minerals used in clean energy technology
- new research and development programme to focus on a specific group of critical minerals: rare earth elements
- rare earths 바카라 사이트� like those used in electric motors 바카라 사이트� are essential to economic and national security and capitalising on growing industries
Tonnes of rare earth elements - essential for technology such as electric vehicles, wind turbines and smart phones 바카라 사이트� could be recycled in future thanks to 拢15 million of government funding for cutting edge research to strengthen supply of critical materials.
Rare earth elements are a family of critical minerals used in products ranging from electric vehicle motors to washing machines. They are vital to the economy, as they are used to create vital components in products ranging from laptops to aircraft. But supply chains are complex and markets are volatile, with most critical minerals sourced from just a handful of countries. This leaves UK jobs and industries vulnerable to market shocks and geopolitical events, which is why the government is working to help UK firms establish resilient and sustainable access to critical minerals.
The 拢15 million funding will launch the CLIMATES programme, delivered by Innovate UK, to develop work on rare earths by researchers and businesses across the country. This will support innovations in the recycling of rare earth elements, as well as research and development, engagement with international partners and activities to identify and support future skills needs. The programme will also look to unlock further private investment in projects to develop resilient supply chains for these important resources.
Nusrat Ghani, Minister of State at the Department for Business and Trade, said:
Rare earth elements underpin so much of what makes everyday life and work possible, from the cars we drive to the phones we use. It is essential that, in a rapidly changing world, we do all we can to ensure resilient supplies of these and other critical minerals.
The impact of Russia바카라 사이트檚 illegal war in Ukraine on energy prices has been a timely reminder of how important supply chains are for all parts of our economy. That바카라 사이트檚 why we are laser-focused on securing robust supply chains, for the growing, green industries that will deliver jobs and prosperity across the UK in the decades to come.
Mike Biddle, Executive Director for Net Zero at Innovate UK said:
Now is the time to build UK capability and a sustainable supply of rare earth elements, working with international partners. The rising costs of energy has demonstrated the importance of resilient global supply chains. Our CLIMATES programme will work with businesses, investors, and industry bodies to deliver a series of activities, from funding competitions to networking events and workshops, all designed to drive growth in the sector and build resilient supply chains to help us strengthen our economy and meet our environmental targets.
Will Drury, Challenge Director, Driving the Electric Revolution, Innovate UK said:
For the UK to deliver on its net zero ambitions we must have access to critical minerals and materials. This intervention by Innovate UK in support of the UK government바카라 사이트檚 strategy provides a thrilling proposition for UK businesses and innovators to build on our research excellence. Our aim is to create an exciting investment proposition that enables growth in this vital area.
It is because of these global challenges that the government will refresh the delivery approach of the UK바카라 사이트檚 Critical Minerals Strategy, which will be published later in 2023. To deliver on the Strategy바카라 사이트檚 commitment to collaborate internationally, we have continued to engage bilaterally and across a range of multilateral forums, notably the Minerals Security Partnership (MSP), the International Energy Agency (IEA), the International Renewable Energy Agency (IRENA), the G7 and the G20.
Production of critical minerals of all kinds is expected to rise sharply 바카라 사이트� some as much as 500% by 2040.聽The government is working to ensure the UK secures a strong foothold in this growing market by supporting key investment in related industries.
In July 2022 Pensana launched the UK바카라 사이트檚 first-ever magnet materials refinery in East Yorkshire, a 拢145 million facility that will secure hundreds of jobs and form an important part of the UK바카라 사이트檚 electric vehicle supply chain. In November 2022 Green Lithium announced they would build the first large-scale lithium refinery anywhere outside of Asia, in Teeside. Both investments are supported by the government바카라 사이트檚 Automotive Transformation Fund.
The government is also harnessing the UK바카라 사이트檚 unparalleled expertise around critical minerals data, through work with the British Geological Survey. They are delivering the work of the Critical Minerals Intelligence Centre (CMIC), set up to improve the resilience of critical mineral supply chains by providing policymakers with up-to-date data and analysis on supply, demand, and market dynamics.
Notes to editors
1. CLIMATES stands for 바카라 사이트楥ircuLar crItical MATErials Supply chains바카라 사이트�.
2. Rare earth elements (REEs) are a group of seventeen metallic elements including yttrium, scandium and the 15 lanthanide elements. REEs are commonly grouped together because they share comparable properties, and are often used in combination.
3. The situation surrounding critical minerals 바카라 사이트� and which minerals are considered 바카라 사이트榗ritical바카라 사이트� 바카라 사이트� is constantly evolving. In 2022, the British Geological Survey (BGS) undertook the first , with an updated assessment expected in early 2023. The聽BGS聽have now been appointed by the government, to run the Critical Minerals Intelligence Centre, which will regularly update this assessment and provide policymakers with a range of up-to-date data and analysis on supply, demand, and market dynamics.
4. The government draws on expert knowledge on critical minerals from across academia, finance, and industry, through the Critical Minerals Expert Committee. The Committee will continue to meet, to advise on the delivery of the Critical Minerals Strategy.
5. The UK is already working with international partners through groups like the Minerals Security Partnership, and the International Energy Agency바카라 사이트檚 Critical Mineral Working Group, to responsibly develop global supply chains.
6. Early this year, we expect to publish a Critical Minerals Refresh, recognising the evolving global landscape and setting out our approach to delivering the Critical Minerals Strategy.
7. The government is also working closely with like minded international partners to strengthen supply chain resilience.
8. The UK has a leading role in developing global standards in the critical minerals supply chain through work with the European Partnership for Responsible Minerals, the Extractives Industry Transparency Initiative, the UN, the G7 and others.
9. Innovate UK바카라 사이트檚 new CLIMATES programme will focus on Circular Critical Materials Supply chains. Delivered in partnership with Research Councils across UKRI, the initial focus of CLIMATES will be on rare earth elements used for permanent magnets.
10. Most of the 拢15 million CLIMATES programme will see investment in collaborative research and development and Innovate UK바카라 사이트檚 new 바카라 사이트榠nvestor partnerships바카라 사이트� which uses grant funding to leverage private sector investment. Further activity will also develop standards, building international partnerships, and develop skills. The first funding competition is expected to open in Spring 2023.
11. Innovate UK is the UK바카라 사이트檚 national innovation agency. A part of UK Research & Innovation, they support business-led innovation in all sectors.