Critical Minerals Programme
House of Commons · Written Statements · 22 Jun 2026 · 1 speech · Official Report
Today I am announcing the scope of the Government’s new £50 million critical minerals programme, first announced in the UK’s critical minerals strategy last year. In line with the strategy, this programme will help strengthen the UK’s supply chain resilience and security and support economic growth across the UK. Critical minerals are essential to modern industry and to many of the growth-driving sectors identified in the industrial strategy, including clean energy, advanced manufacturing and defence. The Government’s strategy sets out clear ambitions to increase domestic production of critical minerals, boost recycling, and reduce our dependence on concentrated international critical mineral supply chains. This new programme is an important part of delivering against our ambitions and will complement wider Government support, including through the National Wealth Fund, UK Export Finance and other existing funding routes, as well as more competitive energy costs and streamlined planning and permitting to support industry. The programme is structured around three pillars. First, we will provide up to £20 million for a magnet hub to establish a national facility to develop and support the scale-up of rare earth permanent magnet manufacturing capability in the UK, while also supporting skills and training in this specialised and crucial field. Secondly, we will provide up to £25 million through a critical minerals accelerator to support collaborative projects across extraction,...