On January 28, 2026, China's Zijin Mining announced a US$4 billion takeover of Allied Gold's three African mines. On February 3, Swiss mining giant Glencore entered talks to sell a 40 per cent stake in its Democratic Republic of Congo (DRC) copper and cobalt operations to the US-backed Orion Critical Mineral Consortium. These developments underscore the escalating competition between China and the United States over critical minerals.
The year 2026 is likened to a chess match where critical minerals form the opening gambit, with both China and the United States going all out. On January 28, China's Zijin Mining announced a US$4 billion takeover of Allied Gold's three African mines, signaling further expansion of China's reserves in the region.
Just days later, on February 3, Swiss mining giant Glencore entered talks to sell a 40 per cent stake in its Democratic Republic of Congo (DRC) copper and cobalt operations to the US-backed Orion Critical Mineral Consortium. This move is part of the US approach to deploy capital and diplomatic leverage to make up for China's years-long head start in building its reserves.
Keywords such as trade war, tech war, rare earths, Europe, Mali, Democratic Republic of Congo, Africa, and others highlight the tensions in global supply chains.