Transition and the geopolitics of mineral resources
Marc-Antoine Eyl-Mazzega: The low-carbon and digital transitions require a large number of raw materials whose demand continues to increase. Metals became important in 2010 when China disrupted supplies to Japan and have been crucial since 2021 with shortages and export restrictions. European states, who import 70 to 100% of the metals they consume, are paying the price for their industrial neglect and failure to counter China’s growing dominance. At the same time, hydrocarbons still dominate global and European energy sources, creating a dual geopolitical challenge regarding both metals and hydrocarbons.
Explaining China’s economic dominance in metal production
Emmanuel Hache: China accounts for over 70% of global metal mining and over 90% of their refining. Chinese dominance in metal markets is now global across all value chains. This position stems from a deliberate choice starting in the 1980s when industrialized countries shifted energy-intensive and polluting industries to China. China has become a major importer of metals by developing a mining diplomacy focused on capturing foreign markets and ensuring cost-effective supplies.
