Britain speeds up the development and production of key minerals

According to the Mining.com website, the British government has started the application for the Critical Minerals Accelerator (CMA) with a total amount of 25 million pounds (about 34 million US dollars), aiming at promoting the commercialization of key minerals mining, processing and recycling projects by providing funds.

The scheme will be operated by the British Department of Commerce and Trade, and will provide grants of 150,000 to 3 million pounds (about 200,000 to 4 million US dollars) to those projects that are close to the commercialization stage but still need support to reduce technical risks or verify commercial feasibility. The selected project is expected to be commercialized by March 2030.

CMA is part of the 50 million pounds (about 67 million US dollars) committed by the UK under the "Critical Minerals Programme" launched in June. These measures are aimed at reducing Britain's dependence on overseas supply chains, enhancing economic resilience and supporting long-term industrial growth by 2035.

CMA also supports enterprises engaged in mining, processing, recycling and advanced manufacturing, while encouraging innovation, creating high-value jobs and attracting private investment.

In addition to the accelerator, CMA also includes a "Magnet Hub", which aims to establish a national center integrating rare earth permanent magnet manufacturing, testing and skill development, and a "Demand Aggregation Platform", which aims to integrate industry demand, support off-take agreements and incite private investment.

CMA aims to support the projects of safe supply of key minerals, improving economic resilience and establishing local production capacity, and at the same time, promote the construction of a more circular economic model through the recovery, extraction and reuse of key minerals.

The plan is the core component of the UK's key mineral strategy, that is, by 2035, domestic production will meet 35% of the demand for key minerals, and the current global competition for key minerals is becoming increasingly fierce.

source:https://geoglobal.mnr.gov.cn/zx/kydt/zhyw/202608/t20260810_10290227.htm