Minerals industry contributes £235bn to UK economy, CBI report says

The UK mineral extraction industry contributes to the economy by underpinning £235bn in added value terms, representing 16% of the total economy, according to a report published by the Confederation of British Industry.

In other findings, the report, produced by the CBI in partnership with the Mineral Products Association, noted that British minerals extraction generates a turnover of £15bn, and £5bn in Gross Value Added (GVA).

The industry directly employs 34,000 people, and supports 4.3m jobs through its supply chain, it added.

In its bid to highlight the critical nature of the business, the CBI said, “A look at historical and current production patterns illustrates that minerals are essential, providing the foundations for every sector of the economy by supplying vital raw materials at the heart of UK growth.”