Responding to the launch of a Critical Minerals Strategy, William Bain, Head of Trade Policy, said:
“If the UK is to keep its place at the table of the world’s biggest and most developed economies then it must diversify and improve its supply chain security.
“Advanced manufacturing needs guaranteed sources of the critical metals and minerals needed to drive the UK’s long-term economic growth.
“In today’s world, it makes sense to reduce dependency on single countries as sources of imported critical minerals.
“Investing in the UK’s own supply chains where we can, like lithium in Cornwall, also reduces economic and geopolitical risks.
“For other key supply chains in batteries, electronics and electric vehicles the commitment to limit single country reliance to 60% by 2035 means we must seek out new agreements. These should be with likeminded partners such as the US, the EU, Greenland, Chile and Canada.
“We should also make the most of our role within the Comprehensive and Progressive Agreement for Trans-Pacific Partnership to futureproof supply chains with other trade partners.”