40 ASIAN LEGAL BUSINESS CHINA • 亚洲法律杂志-中国版 OCTOBER 2023 MINING Mineral resources are the lifeblood of various industries, especially the rapidly evolving electric vehicle (EV) industry. Over the past decade, the swift growth of the EV sector has spurred Chinese companies to accelerate their efforts in prospecting for mines and engaging in overseas mergers and acquisitions within the mining field. According to Caixin data, “from 2013 to 2022, Chinese investors have invested in over 50 lithium mining projects overseas, primarily in Australia, South America, Southeast Asia, Africa, and other regions.” China’s new energy industry, including EV manufacturers, consistently strives to strengthen the entire supply chain by focusing on the upstream sector. However, China faces a shortage of crucial metals like cobalt, nickel, and lithium, essential for power battery cathode materials. Its domestic resources are no longer sufficient to meet the rapidly growing industry demand. Consequently, both upstream and downstream companies across the EV industry chain are compelled to seek resources overseas. Zhang Jiangbo, Legal Director of Zhejiang Huayou Cobalt Co., Ltd., says: “We believe that only by controlling the source can we control the outcome.” He emphasizes that the recent trend of Chinese companies venturing overseas to prospect for mines and invest in factories has created opportunities for Huayou to further develop and achieve industrial integration. 在关注中国新能源汽车产业及法律人在其中扮演的角色后，ALB将视线投向新能源汽车这一火爆行业的最 上游——矿产资源。两位长期投身于矿业领域的法律专业人士向我们分享了中国矿企近些年的“出海”之路、 面临的法律风险，以及法律人的保驾护航之道。 作者：吴嘉林 Following on from our earlier coverage on China’s burgeoning new energy vehicle industry and the pivotal role played by legal professionals, ALB now shifts its focus to mineral resources, the upstream sector of the thriving electric vehicle (EV) industry. Two experienced legal professionals in the mining industry share their insights into the recent globalization efforts of Chinese mining companies, shedding light on the legal risks they encounter and the vital support offered by legal professionals. BY VICTOR WU MAJOR PLANS OF MINERS 矿业出海之路 Image: Evgeny_V/Shutterstock.com
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