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ARTICLE · 22 JULY 2026

Beneath The Surface – Unlocking Development And Funding For Midstream Projects In The UK And Europe

Herbert Smith Freehills Kramer LLP
Herbert Smith Freehills Kramer LLP
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Herbert Smith Freehills Kramer LLP

Herbert Smith Freehills Kramer LLP

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As global demand for critical minerals accelerates, the midstream – the processing and refining of raw materials into usable industrial inputs – is increasingly viewed as a strategically important section of the metals value chain and key to industrial sovereignty. However, despite the strong demand narrative, midstream projects in the UK and Europe face significant challenges.

GlobalEnergy and Natural Resources
Thomas Papworth
Thomas Papworth
Thomas Herman
Thomas Herman
Michaël Armandou
Michaël Armandou
Helen Beatty
Helen Beatty
Danielle MacGillivray
Danielle MacGillivray
Edward Dougherty
Edward Dougherty
Charles Wong
Charles Wong
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As global demand for critical minerals accelerates, the midstream – the processing and refining of raw materials into usable industrial inputs – is increasingly viewed as a strategically important section of the metals value chain and key to industrial sovereignty. However, despite the strong demand narrative, midstream projects in the UK and Europe face significant challenges.

In this briefing, we identify some of these challenges and explore ways to unlock development and funding for processing and refining projects in the UK and Europe.

Geopolitical and regulatory context

Global processing and refining supply chains are highly concentrated. Through forward-looking industrial policies over several decades and policy-driven vertical integration of supply chains, China has established a significant presence in the global midstream processing and refining market. This has coincided with a wider structural decline in the European industrial and manufacturing sectors. 

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