China expands overseas mining stakes, tightening grip on critical minerals

China is expanding its overseas mining holdings through a network of state-backed agencies and investment vehicles, aiming to own more of the metals its economy depends on while preserving its dominance in processing. The strategy tightens Beijing's grip on critical minerals supply chains. The move matters because control over extraction and refining gives China leverage over global prices and supply security for metals used in batteries, electronics and defense. Watch for further state-backed acquisitions and equity stakes in overseas mining assets, and for how Western governments and miners respond.