China Becomes Leading Miner as It Takes Control of Global Supply Chain for Key Technologies

BEIJING, CHINA - China's influence in the global market is expected to grow further in the years to come, as the country strengthens its control over key minerals and technologies that power modern industries.

The latest indication of China's growing dominance comes from data showing significant increases in mineral imports by China in the first nine months of 2023. Copper imports increased by 12 per cent, while cobalt imports surged by 21 per cent, with bauxite imports rising a further 20 per cent. These trends are expected to give China an even stronger position as a leading miner globally.

Industry insiders point to the increasing demand for green energy and smart technologies such as electric vehicles (EVs) and lithium-ion batteries as driving factors behind China's expansion into global mining markets. As companies look to expand their mineral supply chains, major Western powers like the US, India, and the UK may find themselves increasingly out of step with growing technological demands that are no longer being met.

"China is not only expanding its domestic production but also pushing back on imports by setting new targets," said expert Jane Liu. "It poses a challenge for other economies to be able to match their consumption."

Key investments are concentrated in key deposits in Africa, South America and Asia as mining industry giants focus there. Zijin Mining has already surged to ranks of top tier gold mining company, pushing its rival to think twice before increasing production.

For companies such as BHP (Bhp) Australia based which had a strong following on Global markets.