Few details known so far; FT sees Beijing’s self-interest.
During the G20 meeting in South Africa, China unveiled an international initiative to promote sustainability in the resource sector. The initiative seeks to ensure an environmentally friendly “life cycle” for mineral resources, from extraction to recycling, and to ensure that local populations also benefit from their countries’ natural wealth.
Currently, few concrete details about specific measures have been released. According to Chinese Premier Li Qiang, 19 countries have already expressed interest in participating, including several African nations as well as Myanmar, a key supplier of heavy rare earths to China. The Financial Times (Paywall) suggests that the initiative may be driven by China’s strategic aim to strengthen ties with resource-rich countries in Asia and Africa, countering U.S. efforts to establish similar resource partnerships.
In the first half of 2025, China invested record sums in Africa and Asia through its infrastructure and resource project, the “New Silk Road.” Twelve billion dollars flowed from China to Kazakhstan, which has also recently drawn increased attention from the United States due to its rich mineral deposits. The global race for resources is clearly accelerating.
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