China’s stranglehold on copper production is fundamentally reshaping the global landscape in the realm of metals critical for the world’s energy transition, Bloomberg reports. As the country’s burgeoning new-energy sectors propel unprecedented demand for metals, the rapid expansion of China’s copper industry is at the forefront of discussions during Asia Copper Week.

The robust growth of China’s copper sector is significantly influencing the international flow of this essential metal, pivotal for advancing the world’s energy transition. The nation’s assertive hold on other crucial green metals like lithium, cobalt, and nickel, indispensable components in electric vehicle batteries, has already spurred concerns among Western governments.

These concerns have prompted endeavors to foster alternative supply chains to mitigate dependence on China.

According to a recent Financial Times article, China’s stronghold constitutes about 90% of the world’s rare earth elements, at least 80% of the solar panel manufacturing stages, and 60% of wind turbines and electric vehicle batteries. In certain specialized materials crucial for batteries and other niche products, China’s market share nearly reaches 100%.

This consolidation of China’s control over the clean tech supply chain there are parallels to Saudi Arabia’s sway in the oil market. Similar to how petrochemical production provides a strategic stronghold for the Gulf state, China’s dominance in these clean energy sectors is sparking heightened geopolitical competition. The resulting scenario has the potential to complicate global efforts in combating climate change.

China’s assertive grip on these critical sectors amplifies concerns about global energy security and intensifies the struggle to mitigate the adverse impacts of global warming.