China's new initiative seeks to build greener and more stable supply chains for critical minerals, reflecting its strategic response to disruptions in rare earth supplies and its ambition to lead the global mineral trade. The move is viewed by analysts as an attempt to consolidate its position and project itself as a responsible partner in the international context.
China has unveiled its International Economic and Trade Cooperation Initiative on Green Mining and Minerals, a strategic move aimed at establishing more sustainable and reliable supply chain s for critical minerals. This initiative, announced at the recent G20 summit in Johannesburg, is seen by analysts as a response to growing concerns over China 's dominance in the global rare earth market and its potential impact on developing nations.
The initiative seeks to promote cleaner extraction methods, fairer distribution of mineral benefits, and more predictable supply chains, signaling China's intent to position itself as a responsible player in the global mineral trade.\The initiative comes at a time when the global landscape of rare earth supply is undergoing significant shifts. The Kachin Independence Army (KIA) reportedly seized control of key rare earth hubs in Myanmar's war-torn Kachin state, disrupting the supply of essential elements like dysprosium and terbium, which China heavily relies on. These metals are critical for the production of high-performance magnets used in electric vehicles, wind turbines, and advanced defense systems. The disruption in Myanmar's supply has already led to price spikes and concerns among Chinese magnet makers and traders. Myanmar had accounted for over half of China's heavy rare earth feedstock and most of its import value. Early indications show a plunge in imports of rare earth compounds from Myanmar by early 2025 according to Chinese customs data, highlighting the vulnerability of China's supply chains.\The Green Mining and Minerals initiative includes 19 countries, such as Cambodia, Nigeria, Myanmar, Zimbabwe, and the United Nations Industrial Development Organization (UNIDO). Analysts suggest that the initiative is intended to alleviate concerns among G20 partners regarding China's control over critical mineral exports. The historical context of China's dominance in the rare earth market is crucial to understanding the initiative's significance. Since the 1980s, China has built a near-monopoly in both rare earth extraction and, more importantly, refining. As of 2024, China accounted for approximately 60% of global rare earth mining production and 91% of refining output. Experts project that Western markets will continue to depend on China for a vast majority of their heavy rare earth supply by 2030. The extraction of rare earths is complex and environmentally challenging, involving hazardous processes and the potential for radioactive byproducts. China's efforts reflect its understanding of the strategic importance of these materials and its commitment to shaping the future of the global mineral trade in its favor
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