Perran Moon

It is essential that there is an ongoing dialogue about the critical minerals list. I attended a conference yesterday with the British Geological Survey, at which it explained how it came up with the critical minerals list. My hon. Friend is absolutely right that we need to focus on those minerals that are crucial to the development of our economy. Those minerals are essential for our batteries, cars, wires, consumer devices and defence applications. To be clear, critical minerals are the cornerstone of the clean energy revolution—the lifeblood of electric vehicles, wind turbines, solar panels and cutting-edge electronics. In a world where demand for technology grows ever stronger, critical minerals stand as both our greatest challenge and our most brilliant opportunity. Demand is set to massively increase over the next few years and decades, as more consumers buy electric vehicles powered by renewable energy. I have framed critical minerals as a great challenge as well as an opportunity. That challenge arises because at the moment the UK imports almost all of its critical mineral demand. A number of countries dominate the upstream supply chains, with the top three nations dominating well over three quarters of global output, according to the International Energy Agency. That concentration of production is even higher when it comes to refining operations, where China dominates. By 2030, 85% of lithium will be refined in just three countries. That level of supply chain domination is distinctly undesirable for our decarbonising economy and is much higher than the production concentrations of fossil fuels. We must diversify our supply chains to achieve greater resource security, including the development of domestic production capabilities. Other large economies such as the US, Canada, Australia, and the EU are working to secure their own critical mineral supply chains, and we must not be left behind in the race to supply security.