Stafford: “China’s dominance of rare earth metals has left Britain strategically vulnerable”
The UK should consider building rare earth refining capacity in its freeports and industrial clusters to counter dependence on China for critical minerals according to an article by Alexander Stafford, MP for Rother Valley and Business, Energy and Industrial Strategy Select Committee Member.
Stafford notes that post-COP26 and the UK’s Net Zero Strategy, financial markets and government policy are in keen pursuit of the green industrial revolution. However the critical minerals needed to develop the UK’s Net Zero industries are at high risk of supply chain disruption and Britain needs to act.
‘In March, I led an adjournment debate in the Commons to highlight the issue to the government. I was therefore very pleased to see that the Net Zero Strategy included a commitment to publishing a Critical Minerals Strategy next year. This strategy must set out a roadmap to diversify our supply chains, reduce dependence on China and move towards a more strategically and environmentally sustainable arrangement,’ he writes.
‘We should take this opportunity to bring new jobs to the UK, our friends and allies, while addressing critical imbalances in the global economy.’
Pensana’s Chairman will this week speak at a Critical Minerals Association event which will convene industry leaders and politicians to tackle challenges facing the UK Net Zero minerals supply chain.
