The number of mines with legal exploration and mining rights in China has been increasing in recent years, and reserves have also grown. However, they face challenges such as long mine construction cycles, huge investments, and policy requirements for mine consolidation, mine reclamation, and safety and environmental supervision, which extend the mining cycle. The orderly supply of domestically produced ore is a long-term process, which is relatively beneficial to companies in the industry chain that have made significant upfront investments, such as Chinalco, State Power Investment Corporation, Jinjiang Group, Xinfa Group, Hope Group, and Senze Group. The large number of mines in China with long construction cycles, coupled with the overlap of resumption of production and new investment in the southwest, has raised concerns about supply pressure.
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