China’s Top Miner Says It ‘Will Be Targeted’ Amid US Risks
- Zijin Mining Chairman Chen says containment plan risks growth
- Beijing’s role in mining supply chains is under more scrutiny
Workers at the Serbia Zijin Mining complex, operated by Zijin Mining Group Co., in Bor, Serbia.
Photographer: Oliver Bunic/BloombergZijin Mining Group Co., one of China’s most acquisitive metals groups and its biggest listed miner, warned that US-led efforts to tackle Beijing’s control of minerals could slow the company’s global expansion, warning that geopolitical tensions are “becoming increasingly grim”.
The attempted containment of China by developed nations was now commonly understood, and Zijin “will be targeted for sure” given its leading role in the industry and plans for more acquisitions, Chairman Chen Jinghe said on a media call on Monday. “The development of the Chinese economy and the Chinese mining industry is becoming more difficult,” he added.