UK to Bolster Mineral Imports with State-Backed Loans

Chancellor Rachel Reeves aims to reduce reliance on China by supporting companies importing critical minerals for green technology and defense industries.

State-backed loans will be available to UK companies importing critical minerals like lithium, cobalt, and graphite.
The initiative seeks to decrease the UK's dependence on China, which currently dominates the global market for these materials.
The financial support will be facilitated through UK Export Finance, benefiting industries such as electric vehicle production and renewable energy.
The move aligns with efforts to strengthen economic ties with Commonwealth countries, particularly Australia, which holds significant mineral deposits.
Simultaneously, Australian investment is increasing in the UK, with major pension funds committing to substantial property investments.