China Leads Critical Minerals Production

China is at the forefront of global critical minerals production, significantly influencing the supply and demand of essential materials for technology and energy sectors. This leadership position enables China to impact global supply chains and drive innovation across various industries reliant on these minerals. Understanding China's role in critical minerals production is crucial for comprehending the future dynamics of global technological and energy advancements.

Demand for critical minerals such as copper, cobalt, lithium, and nickel is rapidly increasing. These raw materials are essential for various new technologies, including electric cars and wind turbines, which are crucial as the world shifts towards a green transition. Experts predict this trend will continue to accelerate, with global production of cobalt, graphite, and lithium expected to nearly sextuple by 2050, according to the World Bank.

Data from the United Nations Conference on Trade and Development (UNCTAD) indicates that China controls about two-thirds of the world's processing and refining capacity for critical minerals. Although these materials are extracted worldwide, China processes more than half of the global supply of aluminum, lithium, and cobalt, around 90 percent of rare earth metals and manganese, and 100 percent of natural graphite. Additionally, over a third of the world's copper and nickel processing is conducted in China.

Despite China's leading role in critical minerals production, its dominance is waning. The United States and Australia have boosted their production of rare earths since 2010, and recently, Myanmar and Thailand have significantly increased their mining activities.

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