China¡¯s Premier Li Qiang came to the Group of 20 summit not only poised to defend his country¡¯s rare earths curbs, but also armed with offerings to quell the concerns of developing nations.
Critical minerals became a defining theme of Africa¡¯s first G20 summit over the weekend. Sessions were dedicated to the topic as European leaders grappled with supply chain issues and Global South countries appealed for help in benefiting from a burgeoning industry where Beijing dominates processing.
Li had responses to both problems. In a speech Sunday, he justified the need to ¡°cautiously manage¡± exports of minerals critical for military use, laying out China¡¯s rationale for its sweeping curbs. Hours later, China unveiled details of a global mining initiative with friendly nations, in an apparent reply to U.S. efforts to rally allies for an alternative rare earth supply chain.
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