UK approves use of export finance to source critical minerals

(Innovation News, London, 31 October 2024) UK Export Finance (UKEF), the government’s export credit agency, will offer financial support for overseas projects to source critical minerals. Securing contracts that increase the UK’s ability to source critical minerals will help the UK build economic resilience and lower the risk of supply-chain disruption in major industries like automotive, defence, and aerospace. Critical minerals are raw materials like lithium, graphite, and cobalt, which are essential to the UK’s largest export sectors. They are used in emerging and sustainable technologies like electric vehicles, solar panels and wind turbines.