Britain has allocated 50 million pounds, equivalent to about $66 million, to boost domestic production of vital minerals, in a move aimed at reducing dependence on concentrated global supply chains and enhancing the economy’s ability to cope with disruptions.

The funding will be allocated to support projects that include extracting, processing and recycling metals, which are materials used in multiple industries, from smartphones and refrigerators to electric car batteries.

The new program comes as a continuation of previous commitments exceeding 200 million pounds sterling to support this sector, according to the Oman News Agency.

British Industry Minister Chris McDonald is scheduled to launch the program during a visit to an industrial research center in northeastern England, where companies are developing technologies to recover and process metals.

Britain is intensifying its efforts to secure supplies of vital minerals in light of increasing global demand and China’s continued dominance over a large part of the market. It accounts for about 70% of rare earth element mining and 90% of its refining operations.

The new funding includes 20 million pounds to establish a center specializing in rare earth magnets, and 25 million pounds for an accelerator program that helps expand the scope of projects, in addition to up to 5 million pounds for a platform that aims to collect industrial sector requests and attract private investments.

London is also seeking to diversify sources of supply through partnerships with allies, including the United States and South Korea, in the areas of supply chains, processing capabilities and investment flows, reflecting the increasing importance of vital minerals in global industrial and security policies.