Feb 27, 2023 - 03:43 pm

UK to invest £15 million in recycling

The government of the UK is launching a new funding programme to strengthen the supply of critical materials on the isles. In order to help facilitate the high need for rare earth elements, a £15 million recycling research programme is to be launched.

The CLIMATES programme, which Innovate UK organizes, is to help fund researchers and businesses across the UK to develop work on recycling rare earth materials. The initiators say that this will support innovations in recycling rare earth elements, research and development, engagement with international partners and activities to identify and support future skills needs. The programme is also planning to unlock further private investment in projects to develop resilient supply chains for these critical resources.

“Rare earth elements underpin so much of what makes everyday life and work possible, from the cars we drive to the phones we use. It is essential that, in a rapidly changing world, we do all we can to ensure resilient supplies of these and other critical minerals,” said Nusrat Ghani, British Minister of State at the Department for Business and Trade, adding: “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.”

The need to secure their own supply chain for rare earth materials is ramping up, as many nations around the world are looking to source their own lithium and cobalt, such as projects taking off in Germany, while major lithium reserves have been found in India and Sweden. Mexico is even going so far as to nationalize its lithium reserves in order not to have the valuable resource taken advantage of. The United States is also looking to set up a measure in their Inflation Reduction Act, however, the announcement has been delayed until March.



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Found on electrive.com
27.02.2023 15:56