The UK government has launched export credit financing through UK Export Finance (UKEF) to support critical mineral imports vital to industrial growth and the green energy transition. This financing aims to secure reliable sources of minerals like lithium, graphite, and cobalt, essential to sectors such as automotive, aerospace, and technology. The credit guarantees provided by UKEF will support overseas mineral projects, allowing UK manufacturers easier access to stable, sustainable supply chains and facilitating partnerships with countries like Australia, known for their rich lithium deposits. Business and Trade Secretary Jonathan Reynolds emphasized the critical minerals race, underscoring the government’s commitment to building partnerships for sustainable industry growth. Additionally, this initiative aligns with the Minerals Security Partnership, an international coalition supporting secure and resilient mineral supply chains. UKEF will collaborate with other export credit agencies to mitigate financing risks, ensuring that UK companies are well-placed in securing these vital resources for future development.
Source and Credit: gov.uk
