Demand rises for strategic minerals

The Global Mining Development Report 2025, released by the Ministry of Natural Resources on Friday, outlined new patterns in global mining development, showing that demand for strategic emerging minerals continues to grow amid the global energy transition, with lithium, cobalt and nickel production all registering significant increases in 2024.

The report, conducted by the ministry's International Mining Research Center of the China Geological Survey, was released at the 27th China Mining Conference and Exhibition held in Tianjin.

Amid global economic and geopolitical uncertainties, gold's strategic value has become increasingly prominent. According to the report, global gold trade exceeded 3,000 metric tons in the first half of 2025. In 2024, China maintained its position as the world's largest gold importer, accounting for nearly half of global imports.

"Amid global currency fluctuations and rising geopolitical risks, gold's status as both a financial asset and a commodity remains unshakable," said Chen Jinghe, chairman of Zijin Mining Group.

He noted that central banks worldwide continue to increase gold reserves, while China's gold holdings represent less than 9 percent of its foreign exchange reserves — significantly below the global average of about 30 percent.

The report also found that global coal trade volume increased slightly in 2024, with China remaining the world's largest coal importer. Silver and platinum trade volumes also grew, supported by steady investment and industrial demand.

The global mining sector is undergoing a crucial green transformation, with countries actively promoting low-carbon development while ensuring energy and resource security. China plays an important role in advancing sustainable mining, having established a comprehensive green mining system domestically while helping facilitate global low-carbon transition through international cooperation, according to the report.

The China Mining Conference and Exhibition achieved substantial results, including the signing of multiple key projects within Tianjin's natural resources system.

The cooperation projects cover critical areas such as energy development, resource exploration, equipment manufacturing and green mine construction. More than 20 enterprises and geological survey units participated, including Northern Heavy Industry, Tianjin Energy Group, CNPC Dagang Oil Company and Sichuan Hongda Group, jointly promoting cross-regional cooperation and technological innovation in the mining sector.

"The successful hosting of the Shanghai Cooperation Organization Summit at the Meijiang Convention and Exhibition Centre last month has provided us with strong spiritual momentum for openness, inclusiveness and win-win cooperation," said Chen Yong, Party secretary and director of the Tianjin Municipal Bureau of Planning and Natural Resources.

"Our bureau has operations across all domestic provinces and more than 60 countries worldwide," said Tang Haijun, director of the Tianjin North China Geological Exploration Bureau. "These signed agreements cover multiple dimensions, including resource exploration, equipment manufacturing and green mine construction, marking more solid steps in open cooperation."

Cai Muzi contributed to this story.