China dominates refined critical minerals production
China controls an average 70% market share of refining for 19 of 20 strategic energy-related minerals, and leads in refined copper, lithium, cobalt, and manganese. In 2025, China produced about 13 million tons of refined copper (47% of global output), 235,000 tons of refined lithium chemicals (74%), 180,000 tons of refined cobalt (76%), and 2.14 million tons of refined natural graphite (95%). Indonesia leads in refined nickel with 45% of global output, while China is second with over 31%.
Why it matters: This concentration of refining capacity underscores the theme of critical mineral supply chain dependencies, a key concern for energy transition geopolitics.