Rare earths are in high demand, and with Russia’s war in Ukraine disrupting much of the supply chain, new production has become even more dire.
The United Kingdom has released a “Critical Minerals Strategy” to help ramp up domestic rare earth supplies.
To underpin the long-term nature of this strategy, the UK will also evaluate the criticality of its minerals every year.Rare earths have seen a surge in demand all around the world. After all, these minerals are key components of everything from solar panels to electric car batteries to defense equipment. And with Russia’s invasion of Ukraine disrupting much of the supply chain, the need for rare earths has become even more dire.
Currently, the UK has pockets of mineral wealth stretching from the Scottish Highlands to Cornwall. The country also has at least some expertise in material manufacturing and refining. In recent interviews, Business Secretary Kwasi Kwarteng stressed that the UK would maximize what it produces along the critical minerals value chain in a way that creates jobs and growth. However, they wish to protect communities and the natural environment at the same time.
To that point, the country recently began work on a rare earth processing hub at the Saltend Chemicals Park in Hull, East Yorkshire. Among other things, the multi-million dollar facility will refine rare earth oxides required for magnet production. Magnets, of course, are a key component in the manufacture of EVs.
To underpin the long-term nature of this strategy, the UK will also evaluate the criticality of its minerals every year. This will be spearheaded by the new
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