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Major Chinese copper and gold producer Zijin Mining Group Co. said a slowing global economy, geopolitical tensions, and resource nationalism could restrict its overseas deal-making ambitions.
China’s dominant role in mining supply chains – especially in critical minerals vital in industries from electric vehicles to military hardware — has lead the US, the EU and their allies to try to bolster their own output. That poses a risk to the growth of Chinese companies led by Zijin, which has bought copper and gold mines from Canada to Africa, and expanded into lithium in a bid to become a key player in the battery material.
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