British waters could be explored for the potential to mine critical minerals, to end reliance on foreign imports.
Ministers have set out plans to draw up a national-scale assessment of the UK's reserves of materials needed for the likes of mobile phones, electric car batteries and electronics, and encourage commercial extraction.
While much of the work will focus on the mainland, efforts will include understanding the risks and potential for environmentally-responsible extraction of minerals from coastal waters.
The UK Government has just published the country's first critical minerals strategy to bolster resilience of supply chains and seize on the economic opportunities of growing industries, such as electric-vehicle (EV) manufacturing and offshore wind.
Speaking at the official opening of Pensana's £145million site in East Yorkshire, Business Secretary Kwasi Kwarteng confirmed that the facility will be developed to process the critical minerals used in magnets - a key component for making EVs.
The UK Government says minerals such as graphite, lithium and silicon are vital to the economy, as they are key components of products ranging from laptops to aircraft.
It adds: "But supply chains are complex and markets are volatile, with most critical minerals sourced from just a handful of countries, particularly China.
Vulnerable to market shocks
"This leaves UK jobs and industries reliant on minerals vulnerable to market shocks and geopolitical events.
"Ensuring UK firms have a resilient and sustainable access to critical minerals will be vital for the growth of future industries such as EV manufacturing, which will support jobs across the UK for decades to come, and national security.
"That's why the new strategy sets out plans to develop more-robust supplies of these minerals for the vast range of industries reliant on them, protecting Britain's interests into the future.
"The measures include bolstering domestic production, building the UK's skills base, carrying out world-leading research and development, and enhancing reuse and recycling. It also notes the importance of working with international partners and like-minded allies to build trading relationships and diversify supply chains."
Business and Energy Secretary Kwasi Kwarteng said that, with rising geopolitical threats, Britain needs to move quickly to secure the rare earth minerals necessary to supply our future industries.
He added: "We need to develop and strengthen our own supply chains to protect our national security into the future.
"Russia's illegal invasion of Ukraine is a timely reminder of how global events beyond our control can impact supply chains, with profound consequences for the economy."
Intelligence centre set up
Meanwhile, the UK's first Critical Minerals Intelligence Centre has been created. The Nottingham unit will improve the resilience of the UK's critical mineral supply chain by providing policymakers with up-to-date data and analysis on supply, demand, and market dynamics.
The UK's mineral-mining heritage dates back to the Bronze Age.
Cornish tinners, for example, were renowned and exported their innovations and expertise around the world. The UK has pockets of mineral wealth including lithium, tin, tungsten and others, found from the Highlands to the tip of Cornwall, as well as clusters of expertise in refining and material manufacturing.