People attend the 2023 Global Mining Business Development Forum in Beijing. Photo: Courtesy of the forum

The year 2023 marks the 10th anniversary of the China-proposed Belt and Road Initiative, while Chinese mineral companies' overseas business expansion has made remarkable progress. During the 2023 Global Mining Business Development Forum, multiple industry insiders held positive attitudes toward Chinese mineral companies' international cooperation.

Wu Zongchuan, chairman of Cangnan County Mining Industry Association, said during the forum that as competition in the domestic market is growing fierce, more and more Chinese mineral companies have deployed their intelligent mining facilities and industrial chain to overseas market such as African countries. "African countries have abundant mineral reserves, and China's advanced mining equipment can efficiently explore local mines and generate economic benefits for both sides," said Wu.

China is the world's largest mineral producer, consumer and trader. According to official data, the list of the world's top 50 mining companies includes 10 Chinese companies, two more than 2021 and the most from any country in the world.

Chinese mining companies' overseas business has facilitated the green and high-quality development of the mining industries in BRI partner countries in Asia, Africa, Europe and America, said experts. 

Tanzanian Ambassador to China Khamis Mussa Omar said that China is one of Tanzania's major cooperation partners, and that both sides have cooperated on investments in multiple sectors including mining, agriculture and manufacturing, all of which are doing well. 

"Tanzania has abundant untapped minerals, including nickel, cobalt, manganese, copper and graphite, which underscores the huge potential for mineral cooperation with Chinese companies," said the ambassador. 

In 2022, China-Tanzania trade volume reached $8.31 billion, a 23.7 percent year-on-year increase, and Chinese companies' investment stock in Tanzania reached $1.44 billion. 

"China has provided what African countries need in the past several decades such as infrastructure as well as huge respect for local laws, culture and people, but that didn't come with interference in the governance of the countries," said Omar, noting that these are the most important points of competitiveness for China compared with Western countries.

Guests at the 2023 Global Mining Business Development Forum in Beijing Photo: Courtesy of the forum

Ghana's Ambassador to China, Winfred Nii Okai Hammond, said during the forum that they have established the Ghana Investment Promotion Council to reach out to investors in Ghana's mineral sector, especially Chinese investors. 

Ghana is also seeking cooperation with Chinese companies in clean energy and environmental protection to realize sustainable development, said the Ghanaian ambassador. 

Wang Qian, vice chairman of the National Chamber of Commerce and Industry Hardware & Electrical Chamber of Commerce, and the founder of the Central Merger Group, a globalized investment group focused on the mining industry, said that the BRI has provided the group valuable opportunities to explore overseas markets. 

"In order to achieve mutually beneficial results and sustainable development in the mining industry in countries taking part in the BRI, Chinese mining companies should enhance international cooperation in new energy and environmentally friendly mining approaches," he noted.