LONDON 

The US and the UK signed an agreement to secure the supply chain of critical minerals and promote investments, according to a statement by the UK Business and Trade Department on Thursday.

State representatives from the two countries inked a new partnership deal in Washington, DC, on Wednesday, in line with the UK’s Critical Minerals Strategy.

The deal is expected to support UK businesses as the two countries aim to secure the supply of critical minerals.

The agreement will also enable closer cooperation between the two countries in critical minerals while facilitating more private sector investments in mining and processing.

These developments are expected to help secure critical minerals needed in key sectors like automotive, defense, and clean energy, both in the UK and the US.

Under the UK’s Critical Minerals Strategy, the country is pursuing a policy to “ensure no more than 60% of the UK’s supply of any one critical mineral requirement is imported from any one country by 2035,” according to the statement.

*Writing by Emir Yildirim in Istanbul