Contribution
I thank the hon. Gentleman for his offer of support for the effort. One of Northern Ireland’s key economic strengths is advanced manufacturing, and the importance of tin runs through that sector from top to bottom. Tin underpins so much: advanced manufacturing, automotive production, aerospace, clean energy technologies, data centres, telecommunications and defence, all of which are important for Northern Ireland and the UK at large. If tin is scarce, volatile or increasingly concentrated in a few countries, as hon. Members have mentioned, those pressures can affect investment confidence, productivity and our competitiveness in the sectors within the industrial strategy.
It is not enough, as my hon. Friends the Members for St Austell and Newquay and for South East Cornwall (Anna Gelderd) have said, simply to leave this matter to the market. We have a responsibility to make sure that local people benefit from it. As my hon. Friend the Member for South East Cornwall also said, it is essential to our ability to deliver on the industrial strategy as a whole. Critical minerals in themselves are an essential part of the UK economy, but they also underpin everything else that we are trying to achieve. That is why the critical minerals strategy is focused on resilience, improving our understanding of demand, supporting domestic capability where it is viable and environmentally responsible, increasing recycling and working with international partners so that UK businesses are not dependent on fragile or overly concentrated sources of supply.
We cannot onshore every part of the supply chain, but where we have those resources—as we clearly do in Cornwall—capable companies, the environmental protections and community support here in the UK, we can make a contribution to that resilience. That is why, for example, we supported the South Crofty tin project through £20 million of equity investment and last week announced a £71 million investment into Tungsten West. As hon. Members have said, exploration and mining are great, but we also want to see more processing, refining and recycling in the UK. That is why we put the £25 million critical minerals accelerator in place: to help viable projects to get over that hump and get into the market. It is why we are introducing BICS to make the energy costs for potential refining projects more affordable and dealing with things like grid connections.
The Liberal Democrat spokesman, the hon. Member for Maidenhead (Mr Reynolds), asked about intelligence. We have instituted the growth minerals list to get a sense of our demand and introduced the demand aggregator to get a sense of that with allies. The Critical Minerals Intelligence Centre published a prospectivity report, which sets out exactly what he asked about in terms of the potential resources, and we work with the British Geological Survey on that basis. As I said, we are working with international partners to make sure that we have reliable prices, diverse sources and material produced to the high standards that the modern economy requires.
In conclusion, tin has a major economic footprint. It connects the technologies that power our homes, vehicles, factories and communications. The global availability of tin therefore matters to prices, productivity, resilience and good growth. The Government’s approach is clear: support responsible domestic production where we can, recover more value through recycling, build better data on demand, mobilise finance and work with international partners to diversify supply. By doing so, we can reduce vulnerability, support British industry, create skilled jobs and ensure that the UK economy has access to the critical minerals that it needs for the future. I look forward to working with hon. Friends to that end—and, as I am the only person who has not mentioned Tinder, let me finish by saying that I will always swipe right for my hon. Friend the Member for Camborne and Redruth.