With Minerals & Fuels and Metals flowing out to Asia and manufactured goods flowing in, Australia’s trade profile is increasingly tied to China and Asian markets.
Shenhua’s scale underscores China’s continued dependence on coal, while Zijin’s rise anchors China’s position in the global energy transition.
There are two distinct roles in the global minerals system: upstream exporters and downstream manufacturing hubs, whose demand for resources continues to rise.
In 2024, the top ten importers bought nearly USD 700 billion more than the top ten exporters supplied.
In 2024, the global commercial services trade reached nearly USD 9 trillion, led by a group of economies with deep capabilities.
Chinese mining M&A surged in 2019-2025, as China locked in supply-critical metals across Africa and Latin America.
