China zooms in on Latin America, Africa in critical minerals race, says report – by Jackson Chen (Northern Miner – August 30, 2023)

Facing more restrictive foreign investment policies in developed markets, China is expected to continue building its influence over key minerals such as lithium and cobalt across the developing world, according to S&P Global.

In a recent report, the U.S. data analytics firm stated that “China’s reach is quietly growing behind minerals critical to a wide range of products that will shape the future,” with firms from upstream to downstream, from miners to battery makers to electric vehicle manufacturers, all jumping into this race.

“Whether related to top-line growth, cost control, supply security, or backward integration, their motivations are compelling and are likely to last beyond temporary dips in these minerals’ prices,” S&P stated.

China leading lithium M&A

Although many countries — including the United States — are increasingly aware of these minerals’ importance, S&P analysts noted that it is China that has been the most active in these pursuits. This is evident in the number of mergers and acquisitions involving Chinese firms.

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