NEW research has highlighted the importance of the UK mineral extraction industry to the economy.
A report prepared by MPA on behalf of the CBI Minerals Group revealed that mineral extraction contributes to the UK economy by underpinning £235 billion in value added, representing 16% of the total UK economy.
The report backs up research published by the UK Minerals Forum “The Future of our Minerals”. These two reports aim to “set the scene” for the development of a UK Minerals Strategy, which will be published in 2016.
Nigel Jackson, chief executive at MPA and chair of the CBI Minerals Group, said, “The mineral extraction industry is vital to the economy and our way of life. Minerals are essential, representing the largest material flow in the economy, and should not be taken for granted.
“It is hoped that by developing a UK Minerals Strategy, the role of minerals and their contribution will finally be recognised and valued by Government and all stakeholders, and that the industry can influence a shift to a more positive perception of what it does.”