Britain’s only rare earths metal producer is prioritising expansion in the US and EU and putting the brakes on UK growth after Brexit created obstacles for exporting to mainland Europe, the company’s managing director has said.
Among the factors driving the decision by Albert Slot, of Less Common Metals, are the huge subsidies being offered under US president Joe Biden for development of critical mineral supplies.
Slot made the comments after striking an agreement on Monday for rare earth supply from South Africa that aims to reduce western dependence on China for the critical minerals.
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