Core Insights - The UK government has launched a critical mineral strategy to reduce reliance on foreign supplies by 2035, aiming for 10% of domestic demand to be met by UK production and 20% from recycling [1] - The strategy is supported by up to £50 million in new funding and aims to ensure that no single country supplies more than 60% of any critical mineral by 2035 [1] - Current domestic production of critical minerals in the UK meets only 6% of its demand, with a focus on increasing the mining and processing of lithium, nickel, tungsten, and rare earth elements [1] Industry Demand - The UK urgently needs a secure and long-term supply of critical minerals, which are essential for smartphones and electric vehicles, and increasingly important for data centers powered by artificial intelligence [1] - Demand for basic materials in the UK is expected to surge, with copper consumption projected to nearly double and lithium demand expected to increase by 1,100% by 2035 [1] International Collaboration - Earlier this year, the UK and Saudi Arabia reached a mineral cooperation agreement aimed at strengthening supply chains and attracting new investments into the UK [2]

The United States and Australia have reached a new agreement aimed at strengthening the supply of rare earths and other critical minerals, reflecting ongoing concerns over China's dominance of the market. The deal is part of broader efforts by the Trump administration to secure strategic access to these essential materials, which are crucial for defense ...