Highlights

• The UK Parliament's Economic Security report highlights Britain's severe dependency on critical minerals, producing just 2-3% of its needs while consuming 30% of the global supply.
• China dominates the rare earth separation, refining, and magnet supply chains.
• The report proposes a 'whole-of-society' security doctrine with six principles (6Ds).
• Calls for the establishment of an Office for Economic Security.
• Acknowledges the UK's lack of a unified strategy, coordinating bodies, or institutional capacity to execute.
• Despite ambitious recommendations for a revamped Critical Minerals Strategy with production targets and recycling goals, the report lacks a clear funding plan, industrial strategy, or solutions for power, permitting, and offtake challenges.

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A nation finally wakes up to critical minerals—and systematic vulnerability.

The UK Parliament’s Toward a New Doctrine for Economic Security (opens in a new tab) report reads like an overdue national awakening: Britain has discovered that the world is now a hostile marketplace where supply chains, technologies, capital flows, and data are geopolitical weapons. The Committee’s summary on page 7 captures the urgency—adversaries are “weaponizing interdependence,” and allies are “racing to build resilience” while the UK lags behind.

One commendable advance is the explicit recognition of critical minerals as a core threat vector—listed fifth among the ten major risks (page 24). The report’s clarity that the UK produces just 2–3% of its critical mineral needs yet consumes ~30% of global supply is refreshingly honest and long overdue. The Committee also accurately notes China’s overwhelming dominance across rare earth separation, refining, and magnet supply chains, and that Beijing is “weaponizing” these dependencies (page 24).

For Rare Earth Exchanges readers, the forward-thinking element is this: the UK now accepts that without sovereign or allied mineral capabilities, it possesses zero strategic leverage. That’s progress.

Bold Ideas, Thin Execution: A Whole-of-Society Doctrine Without the Tools

The report pushes for a “whole-of-society” security doctrine anchored in six principles—the 6Ds (Diagnose, Develop, Diversify, Defend, Deter, Dovetail) on page 8. On paper, it’s compelling. In practice, the UK still lacks the machinery to execute any of it.

The report openly concedes that Britain has no unified strategy, no central coordinating body, and no single source of truth for threat assessments (pages 15, 31). The National Security Council’s Economic Security Sub-Committee was abolished, leaving UK decision-making fragmented across Whitehall silos. This is not a minor flaw: it is a structural failure.

The Committee calls for an Office for Economic Security, a dedicated minister, and a statutory Economic Security Bill (pages 12–14). These recommendations are constructive but highlight how far behind the UK is compared to the U.S. and Japan, both of which codify economic security with institutional muscle.

Critical Minerals Strategy: Ambition Without Funding, Targets, or Teeth

The report urges a revamped UK Critical Minerals Strategy with production targets, recycling goals, and designated “critical mineral clusters” (page 69). This is forward-leaning—but again, aspirational.

Notably absent:

• How the UK will finance costly midstream capacity (magnet metals, alloying, separation).
• Any acknowledgment that Pensana, for example, an important Anglo-African mining firm, shifted its refinery and downstream strategy to America due to a more proactive government and more robust market dynamics.
• A clear plan to address power, permitting, or long-term offtake—without which sovereign mineral capacity cannot emerge.

The Committee’s recommendations rely overwhelmingly on the National Wealth Fund, which remains politically contested and financially vague.

Cyber, Supply Chains, and the Missing Industrial Backbone

The report wisely highlights supply chain mapping deficits, maritime vulnerabilities, and cyberattacks as existential risks (pages 22–29, 64–70). But it undervalues the industrial base erosion that underpins these vulnerabilities.

A modern rare earth or battery supply chain cannot be secured through coordination alone—it requires capital-heavy domestic industry. On this point, the report identifies the problem but stops short of proposing a realistic industrial strategy calibrated to global competition levels.

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