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One country realized you don’t need to own the mine — you just need to own the exit route.
China now dominates global mineral processing: • ~65% of lithium
• ~74% of cobalt
• ~90% of rare earths
• Nearly all battery-grade graphite
Australia mines lithium. Democratic Republic of the Congo mines cobalt. Chile holds huge reserves. But China processes most of it.
EVs, AI chips, wind turbines, defense tech — the modern economy runs through Chinese refining.
The West focused on mining. China focused on control.
Mines are leverage. Processing is power.