Zijin Mining Group Expresses Concern Over US-Led Mineral Control Efforts
Zijin Mining Group, a prominent Chinese mining conglomerate, has voiced apprehension regarding the impact of US-led initiatives aimed at curbing China’s dominance in the mineral sector, potentially hindering the company’s global expansion.
During a media briefing, Zijin’s Chairman Chen Jinghe remarked on the growing challenges faced by the Chinese economy and mining industry, attributing them to the perceived containment efforts by developed nations. He expressed a belief that Zijin would inevitably become a target of such measures.
With Beijing’s significant influence in critical mineral supply chains crucial for various industries, including electric vehicles and defense, initiatives by the US and EU to promote domestic production or sourcing from allied nations pose a threat to Zijin’s expansion plans.
Despite being China’s largest publicly listed mining company and having acquired mines worldwide, including in Canada and Africa, and venturing into lithium, Zijin is now confronted with geopolitical tensions that could impede its growth.
Chen’s remarks followed Zijin’s recent announcement of its intention to boost metal output by 2025 through strategic acquisitions, aiming for “ultra-large mines or mining companies with global influence.” Despite the increasingly challenging geopolitical landscape, Zijin remains committed to its global development agenda.
