Deadline: July 22, 2026
The key objectives of the scheme are to scale the production of rare earth permanent magnets in the UK, increase the UK’s leadership across the rare earth value chain, develop technical skills and workforce capability for magnet manufacturing, develop innovative advanced manufacturing processes and technologies, provide shared access to specialist equipment for industry use, and strengthen domestic equipment capability and supply diversity.
The Magnet Hub competition is part of the £50 million Critical Minerals Programme announced in June 2026. The programme supports the UK’s ambitions to strengthen critical minerals supply chains and economic security, build domestic production and resilience, and support economic growth through the government’s Critical Minerals Strategy.
Building on previous efforts to develop resilient UK-based supply chains for rare earth elements, the competition will provide up to £20 million in grant funding to establish a world-class national facility for developing innovative manufacturing capability for rare earth magnets. The selected organisation will support innovation, skills development, and the expansion of rare earth permanent magnet manufacturing in the UK.
The funded project must be carried out in the UK and complete all grant-funded activities by 31 March 2030. Applicants are expected to request only the minimum amount of funding required and demonstrate value for money as part of the assessment process.
Applications may be submitted by a single organisation or a consortium with one lead applicant. The lead applicant must be a UK-registered business, university or academic institution, or a research and technology organisation. Charities, not-for-profit organisations, and public sector organisations may participate as project partners but cannot act as the lead applicant.
For more information, visit GOV.UK.
