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China funnelled nearly $57 billion to control critical minerals supply chain
By Cecilia Jamasmie
Mining.com, Toronto
Wednesday, January 29, 2025
China has systematically extended its control over critical minerals essential for the global energy transition and net-zero emissions, using a network of at least 26 state-backed financial institutions over the past two decades, a new report shows.
The database, compiled by AidData at the College of William & Mary in the United States, reveals how Beijing has leveraged an intricate web of financial mechanisms to dominate the global supply chain for critical minerals. These minerals -- including copper, cobalt, nickel, lithium, and rare earth elements -- are vital for emerging technologies such as electric vehicle batteries and solar panels.
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Between 2000 and 2021, Chinese financial institutions provided nearly $57 billion in loans to 19 low- and middle-income countries, the report shows. A parallel study titled "Power Playbook: Beijing's Bid to Secure Overseas Transition Minerals," outlines 93 loan commitments and one grant involving 86 financiers -- a mix of Chinese and non-Chinese entities -- to 59 recipients.
Both studies underscore how China has deployed its vast foreign exchange reserves to secure long-term control over strategic mineral deposits in resource-rich nations. Key examples include copper and cobalt from the Democratic Republic of Congo and Peru, nickel from Indonesia, and lithium from Argentina. ...
... For the remainder of the report:
https://www.mining.com/china-funnelled-57-billion-to-control-critical-mineral-supply-chain/
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