UK Critical Minerals Strategy: Lessons from the US

Reliable supplies of critical raw materials are essential for the green transition and to ensure the competitiveness of key national industries. The Inflation Reduction Act (IRA) in the US and the European Union’s Critical Raw Materials Act are the latest legislative interventions seeking to address the global supply chain vulnerabilities primarily resulting from China’s dominance. The UK, like the US and the EU, recognizes that there is currently no way around critical minerals for the electrification of society. However, there are concerns that the UK’s July 2022 Critical Minerals Strategy does not meet its purported aims.