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China's Ministry of Natural Resources just published a progress report on its 14th Five-Year Plan - and the numbers should be required reading for every mining executive, fund manager, and board director in the Western world. An RMB 33 trillion mining economy. Global number one in reserves across 14 minerals. Number one in production across 17. And dominance across the processing layer that makes virtually every "ex-China" supply chain pitch a fiction. This wasn't a policy signal. It was a scoreboard.
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This week's deep dive comes from Ian Zhang at Sinamin Consulting, one of the few people in this industry who reads Chinese government releases before they get filtered through Western sell-side research. His argument is simple and uncomfortable: the mining sector is still treating China as a demand story it can opt out of, while Beijing is actively building the legal, regulatory, and industrial architecture to control global mineral supply from the smelter up. If your investment thesis, project narrative, or board strategy doesn't account for that, you're already behind.
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This newsletter is for general information, education & entertainment. Kamoa Capital is not licensed and does not know your circumstances. Nothing here is financial, legal or tax advice - seek professional advice and read any PDS before acting. We aim for accuracy but make no guarantees and accept no liability. Views are opinions only and may include forward-looking statements that may not occur.
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