Chinese Miners Eye Overseas Deals After Battery Metals Slump
Zijin and CMOC Group set sights on overseas expansion amid a Western pullback, potentially helping China tighten its grip on critical minerals.
A mound of ore at a Talison Lithium Ltd. site, a joint venture between Tianqi Lithium Corp. and Albemarle Corp. in Greenbushes, Australia.
Photographer: Carla Gottgens/BloombergWelcome to Energy Daily, our guide to the energy and commodities markets powering the global economy. Today, reporters Mark Burton and Annie Lee assess the consequences of ambitious growth plans by Chinese miners of battery metals. To get this newsletter in your inbox, click here.
Battery metal prices are on the floor, and massive expansions by Chinese miners have been instrumental in driving them lower. Now, with many Western rivals cutting output or shutting down entirely, they want to get even bigger.