China Expands Overseas Mining Stakes, Tightening Grip on Critical Minerals

According to CNBC, China is coordinating state-linked companies to increase ownership stakes in overseas mines and secure access to critical minerals. An overseas bureau was established in April to oversee investments by central state-owned enterprises, and a mining investment vehicle was created in July to coordinate deals. Chinese mineral acquisitions abroad reached $8.8 billion in the first three quarters this year, the highest annual total since at least 2018, according to a Rhodium Group report released Wednesday.