The little known metals giant that rules a global market
When China’s Vital Materials bought up a $600 million stockpile of critical minerals in early 2020, it barely raised an eyebrow outside the niche world of minor metals.
The Russian invasion of Ukraine, covid-related supply chain disruptions, and rising inflation have all fuelled a narrative that the clean energy transition will be highly inflationary.
Coal-fired electricity generation reached all-time highs globally in 2021, showing that eliminating coal from the energy mix will not be a simple task.
The company’s first-quarter results Thursday showed China sales and demand slumping, even as other businesses including mining and construction improved.