How businesses can embrace the UK's first Critical Minerals Strategy 

Released on Friday 22 July the UK’s new Critical Minerals Strategy (CMS) lays out a broad outline and direction of government priorities. International comparators for strategies tend come from mining-heavy countries, like Canada and South Africa, but the UK is in a unique position with minerals necessary for powering green technology and achieving net zero. However, domestic extractive activities fall short of producing the quantities necessary. In a turbulent international climate, the CMS presents several opportunities for UK businesses to be a part of the solution.

Planning reforms

The current planning system runs through several different departments and is a time intensive and expensive process. The CMS commits to delivering improvements across the planning system, including safeguarding of future resources, exploration, development, refining, processing, and associated infrastructure. Importantly, it commits to doing so in collaboration with devolved administrations and local authorities. These reforms have been much called for by CBI members and promise to cut administrative delays by embedding critical mineral concerns directly into the planning process. 

International partnerships

Critical mineral markets often have ESG risks and lack transparency. Government engagement in multilateral forums to support and strengthen existing ESG standards will help provide a level playing field for UK businesses, ensuring they are not penalised for doing the right thing. The UK’s inclusion of critical minerals in free trade agreements will also help strengthen bilateral partnerships, lowering market access barriers for industry.

Skills

The UK has traditionally been a powerful producer of mining expertise. With the decline of mining, however, this talent pipeline has been shrinking. For the CSM to truly deliver its domestic and international wins, investment must be made in training and upskilling workers in the UK. The CSM promises both collaboration with the historic Camborne School of Mines to develop an apprenticeship degree in Mining Engineering, as well as between industry and careers services to modernise perceptions of mining. This centralised approach to reimagining mining for the modern day will develop a talent pool to deliver the goals of the CMS.

Setting itself a high bar, the government has demonstrated clear ambition in the critical minerals space. Delivery will be the true test. While BEIS is maintaining ownership over critical minerals and its convening power, much of the strategy will be delivered by departments across government. The strategy commits to producing a delivery plan by the end of 2022 and the CBI will continue to make the case for business engagement to drive the strategy forward.

For more information or to get involved on the CMS, please contact: Isabella Fudge.