China expands overseas mining stakes, tightening grip on critical minerals
Image: CNBC
China is mobilizing state-linked companies to take bigger ownership stakes in mines overseas, seeking to strengthen its stranglehold over the metals vital for electric vehicles, semiconductors and jet engines
The state-led push could give Beijing greater leverage over global supplies of critical minerals and who gets access to them, analysts say.
"China is rolling out a state-coordinated global mining strategy" to replace firm-level decision-making, said Dan Wang, China director at Eurasia, adding that the model would allow for larger, better-aligned global mining investments.
In April, a dedicated overseas bureau was set up to oversee investments abroad by central state-owned enterprises.
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