Amid rising global tensions over control of critical minerals, China discovers 38 new mineral reserve sites this year, further strengthening its grip on key resources vital to defence, electronics, and green energy industries. The newly found reserves include an estimated 3.37 million tonnes of rubidium and 81 tonnes of gold.

According to China’s Ministry of Natural Resources, the sites feature 25 large and medium-sized deposits, including uranium in Heilongjiang, rubidium in Hebei’s Xinglong county, and cobalt in other areas of Hebei province.

The latest discoveries represent a 31% increase compared to the first half of last year and coincide with China’s ramped-up strategic exploration efforts. So far in 2024, the country has granted 581 exploration licenses—318 of them in the first six months alone.

China also increased its mineral exploration investment by over 50% year-over-year, allocating $932 million to non-hydrocarbon resources such as lithium, copper, nickel, and rare earths—essential for electric vehicle (EV) batteries and high-tech manufacturing.

As global powers voice concern over China’s dominant role in the mineral supply chain, officials in Beijing say they are focused on boosting national resource security through advanced geological work and expanded exploration.

Stay Ahead with Stocks. Ask the Analyst.

Ready to invest like a pro? Unicorn Signals app equips you with 100+ Free tools and knowledge you need to succeed. Download the Unicorn Signals app and gain access to daily stock lists and insightful market analysis and much more!