UK is also struggling: spending nearly 500 million pounds to reduce reliance on China's critical minerals

On November 22 local time, the UK government launched a "2035 Vision: Critical Minerals Strategy", planning to spend 50 million pounds (about 466 million yuan) to reduce reliance on foreign suppliers in the field of critical minerals.

According to the strategy, the UK is committed to achieving a target that the share from a single country does not exceed 60% within ten years. In addition, by 2035, 10% of the UK's domestic demand for critical minerals will come from domestically produced, and 20% from recycling.

The Guardian and Reuters believe that the UK's move aims to reduce reliance on China and strengthen its supply chain resilience.

"For a long time, the UK has relied on a few overseas suppliers, which has exposed our economy and national security to global shocks," UK Prime Minister Starmer said in a statement that day. He stated that critical minerals are "the cornerstone of modern life and national security". He believes that increasing domestic production and recycling rates will help protect the economy and support efforts to lower living costs.

According to the introduction, the UK urgently needs secure, long-term supplies of critical minerals, including copper, lithium, and nickel. These minerals are essential for smartphones and electric vehicles, and increasingly important for building data centers that support artificial intelligence. By 2035, the UK's consumption of copper is expected to nearly double, and lithium demand is expected to increase by 1100%.

The UK government said that currently, only 6% of the UK's critical mineral needs are met domestically. According to the strategy, the UK hopes to expand domestic mining and processing scale, especially focusing on lithium, nickel, tungsten, and rare earths. Its goal is to have at least 50,000 tons of lithium production by 2035.

The UK government stated in the official press release that China's central position in the production of critical minerals globally has created a highly concentrated supply chain. For example, China dominates the rare earth supply chain, controlling 70% and 90% of rare earth mining and refining respectively.

"We will continue to cooperate closely with China," the press release said, "while we will expand international partnerships to achieve supply diversification, ensuring the UK has sustainable long-term supply needed by businesses and people." The UK government openly stated that in the future, its priority partners include, but are not limited to, the United States, the European Union, Canada, Australia, Saudi Arabia, India, and Japan.

The press release specifically mentioned that China is the UK's fifth largest single-country trading partner and an important participant in the critical minerals market. "We will conduct exchanges with China in accordance with the principles outlined in the UK's trade strategy."

Original: www.toutiao.com/article/1849759123069059/

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