🚨🇨🇳Snooze, you lose! China buys up overseas mines as West faces self-inflicted critical minerals crisis

The Asian nation’s overseas mining purchases, investment and construction are at their highest level since 2013, per new S&P and Mergermarket data cited by UK business media.

➡️China inked ten foreign mining asset acquisition deals worth $100M or more in 2024, up from eight in 2023 and five in 2022
➡️Its mining investments abroad have hit $22.1B, up from ~$19.75B in 2023, and ~$8B in 2022
➡️The trend has continued into 2025, with Zijin Mining and Kazakhstan signing a $1.2B gold mine deal, and Baiyin Nonferrous Group purchasing Brazil’s Mineracao Vale Verde copper & gold mine operation for $420M.

Analysts attribute the shopping spree to two factors:
🔴restrictions by core Western countries like Canada and Australia on Chinese mining investments
🔴trade and geopolitical tensions with the US as Washington seeks to strangle China’s development. US restrictions on chip access have triggered tit-for-tat Chinese restrictions on critical minerals

Win-win for locals
🔴Bois Schiller Flexner international arbitration lawyer Timothy Foden says China’s mining expansion is welcomed by African countries seeking higher royalties than Western corporations have been willing to provide. China’s miners are “often prepared” to pay more for access, he says.

West’s self-inflicted crisis
🔴China is the world’s preeminent rare earths producer, mining and processing 60-90% of the key tech and aerospace metals and minerals going into everything from airplanes and radars to electronic gadgets and EVs.
🔴Slapped by tightening export restrictions thanks to their own hostile policies, the West desperately needs alternative sources for these minerals.

There’s just one problem: China is now snatching them up, too.

Check and mate.

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