HMRC is intensifying enforcement of the VAT domestic reverse charge (DRC) in construction, moving from “light‑touch” to active enquiries, assessments and penalties where reverse charge accounting, CIS classification or invoicing are wrong. The DRC applies where both parties are UK VAT‑ and CIS‑registered, the work falls within CIS “construction operations”, and the customer has not declared end‑user or intermediary status, with mixed‑supply treatment governed by a 5% threshold. Contractors and subcontractors now need watertight written end‑user declarations, DRC‑capable invoicing systems, and cash‑flow planning that reflects loss of the VAT working‑capital buffer.

Europe’s delayed “Buy European” single-market legislation, now due 4 March, is being criticised for focusing on finished goods while ignoring upstream critical minerals that underpin industrial sovereignty. Michael Wurmser, founder of Norge Mineraler, contrasts EU inaction with the US DFC-backed Orion Critical Mineral Consortium’s move to buy 40% of Glencore’s Mutanda and Kamoto copper-cobalt assets in the DRC, valuing them at about US$9 billion. He argues Europe has sizeable in‑bloc potential in copper, lithium, high‑purity alumina, phosphate and titanium that must be integrated into industrial policy.

Chile’s incoming right‑wing government under José Antonio Kast is merging the Mining and Economy ministries and handing the combined portfolio to agronomist Daniel Mas, unsettling a sector facing an estimated $105 billion in investment to 2034 and already battling a “cursed” permitting system where major projects can need 500+ permits. The shift coincides with Chile’s first critical minerals strategy, expanding focus beyond copper and lithium to 14 minerals including molybdenum, rhenium, cobalt and rare earths. Analysts warn that without faster approvals and incentives for exploration, Chile risks missing the current price cycle as copper output fell 2% in 2025 amid declining grades and ageing deposits.