China plans to prioritise resource exploration

China is expected to tighten its grip on critical minerals this year, with BMI forecasting that Beijing will double down on industrial policy as it consolidates its dominance across global critical mineral value chains. The research and analysis firm said policy signals pointed to accelerated upstream exploration, targeted capacity expansion in critical minerals and a stronger push towards greener manufacturing practices. China is expected to deepen partnerships with resource- rich economies through clearer outbound investment frameworks to diversify supply. Despite a temporary US-China truce, recent tariffs and rare earth export curbs suggest that protectionist leverage remains central, with policy volatility set to persist. In October last year, Beijing released its 15th Five-Year Plan, introducing targeted, industry- level measures to deepen capabilities and build capacity in the metals and minerals sector. According to BMI commodity analyst Amelia Haines, self- sufficiency is underscored as a core strategic objective in the plan. “It also makes clean energy and other emerging sectors one of several central priorities. This shift will lift domestic demand for critical mineral inputs and, in turn, provide a second-hand boost to sector growth.” China has also prioritised resource exploration in its work plan for stable growth of non- ferrous metals – a document it released in September last year. “Rare earths, critical to battery supply chains, are a particular focus,” said Haines. “Notably, ferrous metals such as steel and iron ore take a back seat, with slower growth expected, amid the global race for critical mineral security. The plan also signals headwinds for coal, pressured by decarbonisation targets.” But, she said, given the wide geographical dispersion of critical mineral reserves, China will have to look offshore to secure supply and diversify access. “Developing partnerships with resource-rich nations will remain a key focus for China going forward,” she said. LV