Beijing-backed lending abroad boosts China’s dominance in clean energy minerals

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Financial Times 1d ago

Beijing-backed lending abroad boosts China’s dominance in clean energy minerals - Financial Times

Quick Summary:

State lenders initially provided an acquisition loan to help a Chinese company gain an ownership stake in a mine, before further credit facilities were extended for development and to provide working capital.

These entities have long-term control over the extraction and processing of strategic mineral deposits, including copper from the Democratic Republic of Congo and Peru as well as Indonesia’s nickel and Argentina’s lithium reserves.

Unlike most loans made for BRI projects, which are dominated by a handful of Chinese development banks, the network of lenders to the mineral sector was much broader.