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XCMG rolled out the XDE440, a 400-ton diesel-electric AC drive mining truck claimed as the world's largest, and is delivering it to Zijin Mining for its Serbia copper mines.
China Rare Earth Group Co. Ltd was formally established on December 23, 2021, as a merger of rare earth units from Aluminum Corporation of China (CHALCO), China Minmetals Corporation, and Ganzhou Rare Earth Group, plus two research institutes. The new SOE will control about 62% of China's heavy rare earths supply.
China announced a $1.3 billion investment to expand the Toromocho copper mine in Peru, which is its largest overseas copper project.