UK's Rare Earth Mineral Race: Delayed Investment, Lost Opportunities

Britains delay in investing in rare earth minerals, crucial for modern technology, is causing concern. Tim Harrison, managing director of Ionic Rare Earths, is frustrated as his companys plans to build a new magnet recycling plant in the UK are held up. The UK governments critical minerals strategy, already six months behind, is not providing the necessary support. Other companies have also shifted focus away from the UK due to more attractive offers from the US. Government investment is key to boosting confidence in the sector, but production from a new plant wont begin until late 2027 at the earliest.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.