Critical Minerals Supply Chain: UK Launches £25m Accelerator

To help increase critical mineral extraction and recycling, reducing reliance on global supply chains, the UK Government has opened applications for a £25m accelerator.

This funding is part of a wider £50m (US$33.6m) critical minerals programme that is set to support multiple projects.

The approved projects are expected to be delivered by March 2030, with each receiving between £150,000 to £3m.

Chris McDonald MP, Minister for Industry in the Department for Energy Security and Net Zero and the Department for Business and Trade, says: “We’re taking the bold action needed to shore up our supply chains, ramp up domestic production and back businesses with the investment they need to create new jobs and drive growth, as part of our Plan for Change.”

UK critical minerals accelerator 

In 2025, the UK Government announced Vision 2035, a 10 year strategy that aims to secure critical minerals for the nation.

This critical minerals accelerator is set to contribute in delivering the ambitions of Vision 2035.

The government says this project he will aim to meet three key objectives: 

• driving economic growth 
• strengthening economic security 
• building domestic resilience.

The scheme will focus on UK companies and projects that sit at technology readiness levels of six to eight, close to commercialisation.

Applications for the scheme opened on 5 August and will close on 30 September, with an approved grant decision expected by the end of 2026.

Reducing reliance on global supply chains

Critical minerals are used for many important technologies, including consumer tech like smartphones, defence systems like radar and renewable energy infrastructure like wind turbines.

The UK is aiming to reduce its reliance on global supply chains for these minerals.

According to the Centre for Strategic and International Studies, China currently accounts for 93% of magnet manufacturing and more than 70% of rare earth mining.

In July 2026, the US invested more than US$4m in the Madagascar Ampasindava project, after granting US$400m to MP Materials.

These investments are aiming to help create a localised supply chain away from China, as MP Materials is the only fully integrated rare earth producer that manages mining, refining, separation and manufacturing in the US.

The UK’s Vision 2035 and critical minerals accelerator scheme are looking to have a similar impact, as building a resilient domestic supply chain can support both economic growth and security.