The UK is investing over £4 million to speed up the extraction of key minerals such as lithium, tin, and tungsten in Devon and Cornwall. The University of Exeter will receive £4.5 million to establish a Green Economy Centre, which will focus on accelerating the mining of these critical materials, according to UK Research and Innovation (UKRI), the national agency for science and research funding.
These minerals are crucial for the growing green economy, particularly in the production of digital technologies and advanced manufacturing. The initiative is part of a larger £25 million investment by UKRI to set up five new green industry centres across the country.
The UKRI projects that up to 3,000 jobs could be created in Devon and Cornwall through the mining of these materials, as global demand for lithium alone is expected to increase significantly. The International Energy Agency estimates that up to 40 times more lithium will be required by 2040 to meet the demands of the energy transition.
Frances Wall, the lead investigator for the Green Economy Centre at Exeter, described the investment as a “wonderful opportunity” to support the region’s critical mineral businesses. The centre will work closely with industry partners such as Cornwall Resources Limited, Petrolab, and Geolorn, along with local government bodies, to drive innovation and economic growth.
