CHART: China’s Belt and Road mining investment hits record
China’s overseas investment in metals and mining as part of its Belt and Road Initiative surged by 158% last year, hitting $19.4 billion with energy transition metals the main focus.
The miner estimates it will spend $1bn per year to bring Woodsmith into production by 2027, both a higher cost and longer timeframe than previously expected.
After making more money than ever in the last few years, some of the world’s top energy traders are using the cash to expand in metals and agriculture.