Chinese companies are accelerating purchases of mining assets abroad in a bid to lock in supplies of copper, lithium and other materials vital to electric vehicles, renewable energy equipment and advanced manufacturing. An analysis of S&P and Mergermarket data shows 10 Chinese overseas mining transactions worth more than $100 million closed last year, the most since 2013, and bankers say momentum has carried into 2025. Zijin Mining this year announced a $1.2 billion agreement to buy a gold mine in Kazakhstan, while in April Baiyin Nonferrous Group paid $420 million for a copper-gold operation in Brazil. Industry advisers say Chinese buyers are willing to take longer-term views on valuations and invest in riskier jurisdictions as they compete with Western rivals that are facing tighter national-security screening at home. Beyond conventional assets, Beijing is also expanding undersea. It now holds five exploration licences from the UN-backed International Seabed Authority—more than any other country—positioning it to influence future deep-sea mineral extraction. The push underscores China’s determination to secure strategic resources even as the United States, Australia and other nations move to diversify supply chains away from Chinese processing dominance.