A key industrial hub in eastern China is launching a push to transform itself into one of the world’s top copper-smelting bases, aiming to forge stronger supply chains for the strategic metal as prices flirt with record highs.
In an implementation plan released on Tuesday, the Shandong provincial government pledged to expand its copper industry, with the next two years seeing rapid advancements. The move comes as geopolitical tensions and the race for technological dominance shore up copper’s role as a critical asset.
“[We strive] to further enhance the resilience and security of the industrial supply chains,” the document stated. The plan envisions Shandong as “a globally competitive copper-smelting base” and a domestic leader in research and development for high-end copper materials.
If all goes to plan, the value of the provincial copper industry should surpass 200 billion yuan (US$28.35 billion) by 2027. The current industry’s size was not provided.
Shandong is already home to major players such as Yanggu Xiangguang Copper and CNMC Albetter Copper. The government vowed to “cultivate key enterprises” and support them to “lead on the national level in the copper-smelting sector”.
While China is the world’s top importer and consumer of copper, Shandong intends to expand the export market.