Strategic Materials

Author : Great Britain: Parliament: House of Commons: Science and Technology Committee
Publisher : The Stationery Office
ISBN 13 : 9780215559531
Total Pages : 150 pages
Book Rating : 4.5/5 (595 download)

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Download or read book Strategically important metals written by Great Britain: Parliament: House of Commons: Science and Technology Committee and published by The Stationery Office. This book was released on 2011-05-17 with total page 150 pages. Available in PDF, EPUB and Kindle. Book excerpt: Although most strategic metal reserves are unlikely to run out over the coming decades the perception of scarcity of certain minerals and metals may lead to increased speculation and volatility in price and supply. Strategically important metals are vital to advanced manufacturing, low-carbon technologies and other growing industries and the Government should provide reliable information on potential resource risks in a coordinated and coherent way. The UK also exports large quantities of scrap metal and waste electrical and electronic equipment (WEEE), often to developing countries. This metal not only is a potential resource for the UK but it is also an example of the UK exporting its environmental problems elsewhere. There are also concerns about the illegal export of WEEE, which is often labelled as second hand equipment for re-use, and calls for safeguards to be put in place. Despite a rate of 90% (by weight) metal recycling in the UK, it is of great concern that some strategic metals are likely to be lost in the 10% not being recycled. The report recommends: Improving existing legislation to ensure companies implement requirements on reporting non-financial information, such as human rights and health and safety issues; an evaluation by the Government of the potential for introducing similar legislation to that in the US whereby companies are required to produce detailed reports on 'conflict minerals' that they use. This report also brings the alleged activities of large dealers on the London Metals Exchange to the attention of the Office of Fair Trading. Finally, the report looks at domestic extraction and says planning regulations should not unnecessarily restrict the use of significant potential reserves and that domestic mining could alleviate risks associated with sourcing metals from external supply monopolies. In parallel the Government has to invest in research to ensure that future domestic mining has the least possible environmental impact