"China funnelled $57 billion to control critical mineral supply chain" 29 January, 2025

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 new report shows.

The database, 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. These minerals — including copper, cobalt, nickel, lithium and rare earth elements — are vital for emerging technologies such as electric vehicle batteries and solar panels.

...A parallel study title Power Playbook: Beijing’s Bid to Secure Overseas Transition Minerals, outlines 93 loan commitments and one grant involving 86 financiers — a mix of Chinese and non-Chinese entities — to 59 recipients.

Both studies underscore 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 lithium from Argentina.

Over 75% of these investments were structured to ensure Chinese ownership stakes, primarily through joint ventures (JVs) and special purpose vehicles (SPVs)...

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...