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Chinese investment in overseas mining is said to surge to decade high
- Chinese mining companies surged overseas acquisitions in 2024, marking the busiest year in over a decade with ten deals exceeding $100 million each.
- This surge reflects China's urgent effort to secure critical raw materials before Western governments tighten investment restrictions amid rising geopolitical tensions.
- Notable deals include Baiyin Nonferrous Group's $420 million acquisition of a Brazilian copper and gold mine in April and Zijin Mining's $1.2 billion purchase of a gold mine in Kazakhstan.
- Analysts note Chinese firms accept lower returns and riskier investments, especially in Africa and Latin America, to gain control amid rising resource nationalism and strategic competition.
- This accelerating investment strategy suggests China aims to maintain dominance in critical mineral supply chains key to green technologies despite Western efforts to reduce dependence.
15 Articles
15 Articles
China's Global Mining Expansion Accelerates
China has been buying mining operations around the world for years to sate its appetite for raw materials, which remains much stronger than what it can produce domestically. Over the past couple of years, however, this shopping spree has accelerated—Chinese investors are in a rush. In 2023, Chinese companies invested some $16 billion in mines globally, and this did not include minority stake purchases, the Economist reported in November last yea…
Chilean state-owned Codelco and Chinese technology Huawei signed a Memorandum of Understanding (MoU) to address issues such as innovation and the use of new technologies in mining operations. According to what Codelco explained, the document contemplates exploring opportunities such as the use of artificial intelligence (AI) for automation and efficiency improvements, connectivity in open-air or underground operations, cloud services and technol…
As Trump pushes for resource independence, China starts acquiring mines in Africa, South America
Chinese overseas mining acquisitions have surged to their highest level in more than a decade, raising alarms in Washington and among US allies seeking to counter China’s dominance over critical minerals. According to newly compiled data from S&P Global and Mergermarket, there were 10 Chinese mining deals valued at more than $100 million each in […] The post As Trump pushes for resource independence, China starts acquiring mines in Africa, South…
Financial Times
Australian Financial ReviewChina snaps up mines around the world in rush to secure resources
Dealmaking hits highest level since 2013 as groups seek raw materials that underpin global economy
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