The potential for UK mining within a new government drive
Yesterday, in the UK, the Queen delivered a speech reflecting on the current and future economic and political landscape of the United Kingdom. Following weeks of political uncertainty in the UK, the announcement of a Modern Industrial Strategy could forge the way for enhanced government operational and strategic support within burgeoning and existing mining projects throughout Great Britain.
As the ability to trade and form strategic alliances with overseas partners grows more ambiguous, it is both prudent and financially viable to look to support the mining infrastructure that is in place on these shores.
Charles Bond, a partner at the international law firm, Gowling WLG, sees this wider industrial focus by the state as a green light for the natural resources sector:
"The introduction of a 'modern industrial strategy' may well incorporate a renewed focus on domestic mining, given the resurgence that has taken place in the UK recently. The mining of tin in Cornwall as well as gold and silver exploration in Scotland and Northern Ireland are, amongst other major projects, helping to revitalise an industry which rightly deserves a key place within the government's wider strategy."
Whether or not the inclusion of mining within the headline strategy that has been announced by the Queen is yet to transpire but as details emerge over the coming weeks – preceded of course by the stipulation that we have a functioning government! – the industry should watch closely to see how highly the needs of the sector are prioritised in a post-Brexit environment. Although the eventual outcome of the negotiations may well be a positive one as far as the UK's position in international mining and investment goes, ensuring that efforts on these shores are properly maintained and supported makes sense.
