AKIPRESS.COM - Head of Critical Minerals and Mining (International) at the UK Department for Business and Trade (DBT) Oliver Richards presented a report on the future of global critical minerals supply and strategic cooperation with Mongolia, according to MiddleAsianNews.

He noted that global critical minerals supply chains are currently highly concentrated, while demand is expected to increase significantly in the coming years due to the development of clean energy, electric vehicles, and advanced manufacturing. As a result, demand is projected to outgrow supply in the near future.

To address this issue, the UK is implementing a 10-year Critical Minerals Strategy aimed at strengthening supply resilience and security. The strategy sets clear targets to meet 10% of demand through domestic production, to meet 20% through recycling, and to ensure that no more than 60% of critical minerals supply comes from any one country.

The UK also aims to foster a more transparent, resilient, and diversified market for critical minerals through international partnerships, stronger supply chain collaboration, improved access to finance, and enhanced research and innovation capacity.

The UK is actively expanding critical minerals cooperation in Mongolia and Central Asia, having signed memoranda of understanding with Kazakhstan (2023), Mongolia (2024), Uzbekistan (2025), and Kyrgyzstan (2025).

The memorandum with Mongolia supports cooperation in areas such as geological exploration and resource mapping, trade, ESG standards, and financial support mechanisms.

London also remains a global hub for mining finance, capital markets, technology and research, providing a strong ecosystem for expanded investment, supply chain partnerships and technology collaboration with resource-rich countries such as Mongolia.