Chinese firms increase purchase of overseas mining assets
(MENAFN) Chinese companies are rapidly increasing their purchases of overseas mining assets, reaching levels not seen in over ten years, as they seek to secure vital raw materials amid growing restrictions from Western nations.
According to analysis based on market data, ten mining deals each valued over $100 million were completed last year, marking the highest number since 2013.
Experts suggest this surge in acquisitions is partly driven by China’s efforts to stay ahead of worsening geopolitical conditions, which have made it increasingly difficult for Chinese investors to operate in key countries like Canada and the United States.
Among the significant recent transactions are gold mines in Kazakhstan, Ghana, and the Ivory Coast, copper mines in Zambia and Brazil, and a 50 percent share in a rare-earth project located in Tanzania.
China dominates the global rare earths sector, accounting for 90 percent of refining capacity and possessing the largest reserves of these critical materials.
Securing mineral resources has become a national strategic goal for Beijing, especially as demand grows for lithium, cobalt, and nickel, essential components for clean energy technologies and advanced manufacturing.
In response, Western governments have sought to limit China’s access to key minerals and processing technology, aiming to safeguard their own supply chains and reduce reliance on Chinese sources. Measures include blocking investments, imposing export controls, and forming alliances to source minerals from alternative suppliers.
U.S. President Donald Trump has emphasized mineral access as a strategic concern, linking it to diplomacy and peace efforts. Recently, peace agreements brokered by the U.S. in Rwanda and the Democratic Republic of the Congo were presented as securing American interests in regional mineral resources. Additionally, Washington signed a minerals pact with Ukraine earlier this year as part of military aid arrangements.
In June, China and the U.S. agreed to resume rare-earth exports after China had previously restricted these exports in retaliation to American tariffs, disruptions that had affected global supply chains.
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