The UK is set to become a world leader in the production and consumption of heavy metal and precious metals, according to a new report.
The International Monetary Fund (IMF) has forecast the UK could be one of the top 10 countries for mining in 2023.
Its report says that as mining becomes more of a national business, so too does the number of new jobs created.
This, coupled with the growth of the aluminium and nickel industries, will likely lead to the UK becoming the “world’s leading metal producer and consumer of heavy metals in the next 20 years”.
The report said this would result in a huge increase in the total amount of metals produced and the overall amount of wealth held by the UK’s population.
“In the coming decades, the UK is likely to become the world’s leading producer of heavy and precious metal, and also to become an important player in the global supply chain,” the report said.
“This will create the world-leading role in the manufacture of high-grade metals, and therefore will contribute to the global transition to a more sustainable economy.”
The report also said that the UK would see an economic boom in the mining industry.
“The UK is one of a number of countries that will likely see a major economic growth in the industry,” it said.
“This will be driven by a combination of increased investment, the continued expansion of the UK economy, and a strengthening global outlook.”
The UK’s mining industry is the largest in the world, with more than $US3 trillion ($4.4 trillion) worth of resources in the country.
The UK also produces about 10% of the worlds carbon dioxide emissions, making it the third largest emitter after China and the US.
This is due to the fact that the country is one the most productive in the EU and is one where the most advanced technology and industrial infrastructure is located.
The report says there will also be a significant impact on environmental standards.
“We will see an increase in environmental standards, as a result of the production of heavy-metal and precious-metal resources,” the authors wrote.