The Belt and Road Initiative Expands the Scope of International Cooperation in Mineral Resources

Experts contend that countries along the Belt and Road Initiative exhibit diverse resource endowments, pronounced complementary strengths, and immense cooperative potential. Against the backdrop of a prolonged global downturn in the mining sector, the continued advancement of the Belt and Road Initiative is poised to further expand the scope for international cooperation in mineral resources, thereby opening up new opportunities for China’s mining industry.

The Silk Road countries have great potential for cooperation in mineral resources.

The countries along the Silk Road Economic Belt boast abundant mineral and energy resources, playing a pivotal role in global economic and social development. For instance, Uzbekistan is known as the “Land of Gold,” while Southeast Asian nations are home to a tin‑ore belt stretching some 2,500 kilometers…

More importantly, cooperation among countries along the route in the mineral resources sector is highly complementary. For instance, minerals such as copper, cadmium, and nickel—resources that are in short supply in China—as well as strategic emerging minerals, are abundant in certain countries along the Silk Road Economic Belt. Meanwhile, Central Asian nations, which are rich in oil and gas resources, generally possess relatively limited capabilities in exploration, development, and extraction; consequently, there is vast potential and promising prospects for collaboration with China in this field.

Experts and industry stakeholders generally agree that intensifying the exploration and development of mineral resources—thereby transforming resource endowments into economic advantages—is a shared vision among countries along the route.

The implementation of this vision will usher in new opportunities for the development of China’s mining sector.

In its document “Vision and Actions on Promoting the Joint Development of the Silk Road Economic Belt and the 21st Century Maritime Silk Road” (hereinafter referred to as the “Vision and Actions”), the Chinese government explicitly states that it will expand areas of mutual investment, intensify cooperation in the exploration and development of traditional energy resources such as coal, oil, natural gas, and metal minerals, actively advance collaboration in clean and renewable energy sources—including hydropower, nuclear power, wind power, and solar energy—promote on‑site and nearby processing and conversion of energy resources, and establish integrated upstream–downstream industrial chains for energy‑resource cooperation.

Analysts contend that advancing the Belt and Road Initiative will help address China’s challenges of overcapacity in certain mineral sectors and difficulties in securing access to key mineral resources. Taking the steel industry, which suffers from severe overcapacity, as an example, the massive infrastructure investment under the Belt and Road will boost steel demand, while many countries along the route serve as important export markets for Chinese steel. The initiative underscores capacity‑cooperation with partner nations, accelerating Chinese steelmakers’ international expansion by establishing production facilities locally. This not only helps alleviate domestic overcapacity but also enables firms to leverage favorable overseas mineral resources to reduce costs.

Taking gold as another example, geographically speaking, the major Chinese provinces and municipalities along the Belt and Road are home to numerous gold mines, while Asian countries along the route—such as India and Thailand—are key consumers in the global gold market. As demand for gold as a safe-haven asset rises, central banks in countries like Russia and Kazakhstan have shifted from net sellers of gold to net buyers. These developments will create significant opportunities for the domestic gold market.

According to reports, Shaanxi Provincial Geological and Mineral Exploration & Development Corporation has actively responded to the Belt and Road Initiative by dispatching exploration teams overseas and increasing investment in the exploration and development of mineral resources along the Silk Road. Through joint exploration, equity investments, and acquisition deals, the company has secured high-quality mining rights. At the same time, capitalizing on depressed commodity prices, it has pursued resource development by investing in and acquiring established mining enterprises. Meanwhile, Shaanxi Yanchang Petroleum (Group) Co., Ltd. has accelerated its strategic expansion into Central Asia, holding discussions with Kazakhstan on the development of several oil, gas, and coal resource blocks, and engaging in ongoing consultations and cooperation with countries such as Uzbekistan and Turkmenistan.

Multiple parties are working to expand the scope of international cooperation in mineral resources.

Analysts identify three major challenges currently facing China’s mineral resources sector: first, overcapacity; second, severe divergence among industry players; and third, increasingly stringent barriers to resource exploration and development. Meanwhile, the global mining industry is undergoing a profound restructuring, with commodity prices remaining persistently low, ushering in a prolonged downturn.

Experts point out that, against this backdrop, the mining sector should place even greater emphasis on international cooperation. Relevant government agencies and enterprises should seize the opportunities presented by the Belt and Road Initiative to collaborate with partner countries and regions, deepen cooperation in mining investment and processing trade, and fully leverage the complementary strengths and cooperative potential of all parties in areas such as resources, capital, industry, technology, and infrastructure, thereby fostering mutual reinforcement and shared development in the mining sector.

Peng Qiming of the Ministry of Land and Resources stated that China’s abundant mineral resources, coupled with the substantial complementary advantages of countries along the Silk Road and their strong desire for cooperation, will effectively advance mutually beneficial, win-win collaboration in the field of mineral resources.