The governments of the UK and the US have formalised an agreement to enhance cooperation in securing supply chains for critical minerals.
A memorandum of understanding (MoU) was signed in Washington, DC, by UK Foreign Office Minister Seema Malhotra and US Under Secretary of State Jacob Helberg.
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The agreement aims to boost investment in UK projects and fortify supply chains that are essential for products such as smartphones and refrigerators.
This collaboration aligns with the UK’s Critical Minerals Strategy, which aims to limit imports of any single critical mineral from one country to no more than 60% by 2035.
The initiative, backed by up to £50m ($59m) in new funding, is designed to accelerate domestic production and processing capabilities.
This partnership aims to encourage private investment in sectors such as mining and processing, crucial for industries like automotive, defence and clean energy.
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By GlobalDataUK Industry Minister Chris McDonald said: “We need critical minerals for everything – from the phones we use to the cars we drive. This partnership with the US will boost minerals projects across Britain and drive new investment into businesses.
“Our Critical Minerals Strategy stressed the importance of forming international partnerships to diversify our supplies of minerals, and this signing does exactly that.”
The MoU adds to the existing critical mineral agreements the UK has established with nations including Australia and Canada.
The critical minerals sector is a significant contributor to the UK economy, generating £1.79bn and supporting more than 50,000 jobs.
Currently, there are more than 50 ongoing projects within the UK focused on extracting and refining these essential materials.
According to the terms established in the MoU, both countries aim to utilise economic policy tools and coordinated investments to develop diverse and equitable markets for critical minerals.
The objective is to achieve resilience and security within supply chains through enhanced mining, separation and processing efforts.
Additionally, the countries aim to streamline permitting processes and work together to prevent non-market practices in pricing.
Malhotra said: “As demand for critical minerals around the world continues to rise, this MoU with the US underscores our commitment to working as close allies to build resilient, diversified global supply chains.
“This is an important step in safeguarding long‑term economic growth at home and protecting the UK’s interests around the world.”
