“With geopolitical threats escalating, Britain needs to move quickly to secure its access to rare earths”
After the energy independence from Russia London it also considers the weaning of rare earths from dominant players in the international market, such as China, to be of strategic importance.
Britain on Thursday emphasized the importance of ensuring smooth flow in the minerals supply chain by creating more options for importing them, as London activated a magnet processing facility in northern England and drew up a major new minerals strategy.
Rare earths, such as neodymium, praseodymium, terbium and dysprosium, are used in the production of magnets for starting motors in electric vehicles, but also for the operation of electric windows in the same vehicles, in the operation of coastal turbines, and in other high-tech devices, as China currently supplies 98% of the global supply chain.
Efforts by Europe and the US to reduce their dependence on China, but also to organize a secure and independent supply chain for these important minerals, have accelerated following the problems presented during the COVID-19 pandemic. Britain has announced that the Pensana facility will be the second largest magnet processing infrastructure outside of China, with operations beginning in late 2023.
“With escalation of geopolitical threats, “Britain needs to move quickly to secure its access to rare earths that will be crucial in supplying future industries,” Business Secretary Quasi Kwarteng said in a statement, also citing problems caused by Russia’s invasion. in Ukraine, more broadly in supply chains.
“Most of these minerals come from a small number of countries, leaving Britain vulnerable to unpredictable market movements. We need to develop and strengthen our own supply chains to protect our national security in the future.”
The $173.07m facility in Salted, Yorkshire, is supported by the Government’s Motoring Reform Fund (ATF) and will create 126 new jobs.
The group of important minerals also includes graphite, lithium and silicon, a dominant position in the supply of which China also has.
As part of the new strategy for sourcing valuable land, Britain has announced that it will work to carry out more research and development and to organize the necessary skills base among the local workforce, such as strengthening domestic production and diversifying supply chains , with London working “with like-minded allies.”
“We are already activating the strategy’s goals to diversify supply chains away from dominant players,” said Kwarteng.
RES-EMP
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