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UK opens applications for Critical Minerals Accelerator grants
The program will fund near-commercial projects with grants of up to £3 million ($4 million) and targets commercialization by March 2030.
The UK government has opened applications for its Critical Minerals Accelerator, a £25 million ($34 million) grant program aimed at moving domestic critical minerals projects from near-commercial stages to commercialization.
Run by the Department for Business and Trade, the initiative will provide grants ranging from £150,000 to £3 million ($200 to $4 million) to support projects that need help de-risking technology or demonstrating commercial viability, with successful efforts expected to reach commercialization by March 2030.
The accelerator is part of a wider £50 million ($67 million) commitment under the UK’s Critical Minerals Programme launched in June, which targets reducing reliance on overseas supply chains to strengthen economic resilience and support industrial growth through 2035.
The broader strategy also includes a Magnet Hub to back rare earth permanent magnet manufacturing, testing, and skills development, plus a Demand Aggregation Platform designed to consolidate industry demand, support offtake agreements, and attract private investment, according to Mining.com.