FX.co ★ China Defends Mineral Curbs, Rolls Out Green Mining Plan

In his address at the Group of 20 summit in Johannesburg, South Africa, Premier Li Qiang emphasized the importance of "cautiously managing" the export of minerals crucial for military applications. He described China's extensive restrictions as an effort to strike a balance between ensuring security and fostering collaboration. Premier Li committed to advancing mutually beneficial partnerships and the peaceful utilization of essential minerals while safeguarding the interests of developing nations and carefully considering their military and other applications. Subsequently, Beijing announced a green mining initiative in cooperation with 19 countries, including Cambodia, Nigeria, Myanmar, and Zimbabwe, in conjunction with the UN Industrial Development Organization. Although the plan does not include financial commitments, it aspires to create an inclusive network to guarantee the "fair and reasonable, stable and smooth" mining of critical minerals.