The UK Government is taking steps to secure the supply of critical materials in the country. To address the high demand for rare earth elements, a recycling research program worth £15 million will be launched.
The CLIMATES program, organized by Innovate UK, aims to provide funding for researchers and businesses to work on recycling rare earth materials. The program aims to support innovations in recycling rare earth elements, engage with international partners, and identify future skills needs. Additionally, it plans to attract private investment in projects that will help develop resilient supply chains for critical resources.
Rare earth elements are essential in many everyday products, from cars to phones. It is crucial to ensure resilient supplies of these materials, especially as the world is rapidly changing. As Nusrat Ghani, British Minister of State at the Department for Business and Trade, stated, “The impact of Russia’s illegal war in Ukraine on energy prices has been a timely reminder of how important supply chains are for all parts of our economy. That’s why we are laser-focused on securing robust supply chains for the growing, green industries that will deliver jobs and prosperity across the UK in the decades to come.”
See also: French Start-Up MagREEsource Secures Funding for Eco-Friendly Rare Earth Magnet Recycling Process
Many nations worldwide are also looking to secure their own supply chains for rare earth materials, including lithium and cobalt. Germany, India, Sweden, and Mexico have all taken steps to secure their reserves. The US is also taking measures to address this issue, with plans to announce a measure in their Inflation Reduction Act in March.
Securing the supply chain for critical materials is crucial for the future of sustainable industries and the global economy. The UK’s recycling research program is a step towards ensuring a reliable supply of rare earth materials in the country, supporting innovation and development in the process.
