A new report reveals how 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, China has leveraged an intricate web of financial mechanisms to dominate the global supply chain for critical minerals such as copper, cobalt, nickel, lithium, and rare earth elements. The report highlights China's use of loans, joint ventures (JVs), and special purpose vehicles (SPVs) to secure long-term control over strategic mineral deposits in resource-rich nations.
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, 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.
Both research underscores 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 and special purpose vehicles . These arrangements grant Chinese entities significant influence over the extraction and processing of these resources.
Unlike BRI loans, which are typically issued by a select group of Chinese development banks, transition mineral financing involves a broader network of lenders. These include state-owned commercial banks like the Industrial and Commercial Bank of China, Bank of China, and Citic.The report shows that mineral lending often relies on serial loans rather than one-off arrangements, signalling a deeper, long-term commitment to securing upstream resources.
Energy & Environment CHINA MINERALS FINANCING SUPPLY CHAIN GEOPOLITICS
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