Overview

• 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.