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Chinese investment in overseas mining is said to surge to decade high

CHINA, JUL 6 – Chinese mining firms have completed 10 deals over $100 million in 2023, focusing on lithium, cobalt, and rare earths amid geopolitical pressure and Western restrictions.

  • Chinese mining companies surged to their highest overseas acquisition level in over a decade during 2024, led by deals in Africa, Latin America, and Asia.
  • This surge followed years of accelerated investment to secure critical minerals amid rising geopolitical tensions and Western governments tightening investment restrictions.
  • Key transactions included Baiyin Nonferrous Group's $420 million copper and gold mine acquisition in Brazil and Zijin Mining's $1.2 billion purchase of a Kazakhstan gold mine.
  • Analysts note Chinese firms accept lower returns and invest in riskier regions, with 10 deals above $100 million in 2023 marking the highest annual total since 2013.
  • This expansion solidifies China's dominance in processing critical minerals, suggesting continued dealmaking activity despite increasing Western efforts to reduce dependency.
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Chilean state-owned Codelco and Chinese technology Huawei signed a Memorandum of Understanding (MoU) to address issues such as innovation and the use of new technologies in mining operations. According to what Codelco explained, the document contemplates exploring opportunities such as the use of artificial intelligence (AI) for automation and efficiency improvements, connectivity in open-air or underground operations, cloud services and technol…

·Chile
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Financial TimesFinancial Times
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Australian Financial ReviewAustralian Financial Review
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China snaps up mines around the world in rush to secure resources

Dealmaking hits highest level since 2013 as groups seek raw materials that underpin global economy

·London, United Kingdom
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Seeking Alpha broke the news in United States on Sunday, July 6, 2025.
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