New UKEF loan guarantee scheme for critical minerals projects

8th November 2024

UK Export Finance (UKEF) has announced an extension of a new loan guarantee scheme which will now support overseas projects supplying critical minerals, essential for UK industries such as clean energy, automotive, aerospace and defence.

This financing aims to secure long-term access to critical minerals like lithium, graphite and cobalt, helping UK exporters strengthen supply chains amidst global competition with a keen eye on sustainability.

Key Points:

  • Loan guarantees are available for overseas projects with an offtake agreement with UK entities
  • UKEF will collaborate with other export credit agencies to fund eligible projects
  • Full eligibility criteria and application details will follow in the coming months

This initiative purports to align with the UK’s goals for industrial growth and the Net Zero transition, ensuring stability in critical mineral supplies.

For further guidance, please contact our Banking & Finance team.

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