China’s aggressive pursuit of critical minerals – particularly across Africa – has raised concerns in Washington and sparked a global rare earths race.
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But, with a two-year head start, as well as the impetus to do what it must to fuel its hi-tech electronics, renewable energy and defence systems, China is unlikely to lose its leading position, according to experts.
From the Democratic Republic of Congo (DRC) to Botswana and Zimbabwe, Chinese companies have spent more than US$10 billion acquiring mining and critical mineral assets in Africa.
These investments in minerals like cobalt, lithium and rare earths were mostly secured in 2023 and 2024. Within two years following the pandemic, China “gradually but steadfastly resumed its economic engagement with Africa” and made a noticeable shift towards acquiring mining and critical mineral assets there, according to a Brookings Institution article last week.
The DRC, which is by far the world’s largest producer of cobalt and a key source of copper, was a hotspot for Chinese investments, attracting about US$1 billion in 2023 alone, the report said.
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However, last week the Financial Times reported that the United States was engaged in “exploratory talks” with the DRC about a deal that would grant access to the country’s critical minerals in exchange for military support.