The UK Government has launched a £50 million Critical Minerals Programme to help strengthen domestic supply chains, support economic growth and accelerate the transition to clean energy.
Announced as part of the UK Critical Minerals Strategy, the programme will support innovation, commercialisation and business growth across the critical minerals value chain, including extraction, processing, recycling and advanced manufacturing.
The programme is built around three pillars:
- A Magnet Hub: (up to £20 million) to support rare earth permanent magnet manufacturing capability and skills.
- A Critical Minerals Accelerator: (up to £25 million) to support projects across extraction, processing and recycling.
- A Demand Aggregation Platform: to help consolidate demand, unlock investment and support strategic partnerships.
The Magnet Hub competition will open first, followed by the Critical Minerals Accelerator. Market engagement for the Demand Aggregation Platform is expected later this summer.
Funding will be awarded through a competitive two-stage process. A three-week expression of interest stage opens during the week commencing 1 July 2026, followed by a full application stage over the summer. Successful applicants are expected to be confirmed in autumn 2026, with projects running through to March 2030.
Further information is available on GOV.UK: Funding for UK critical minerals projects - GOV.UK.