China central bank keeps buying gold as bull run hits brakes

[SMM Flash] The Democratic Republic of Congo (DRC) is becoming an increasingly important arena in the US-China competition for critical minerals, with the country holding significant resources of cobalt, copper, lithium, coltan, tantalum, tin, tungsten and other strategic commodities. China has built a strong position across the DRC's mining, processing and refining value chain, while the US is seeking to diversify supply through infrastructure investment, diplomacy and direct participation in mining assets. A key component of the US strategy is the Lobito Corridor, supported by a $553 million US Development Finance Corporation loan to rehabilitate about 1,300 km of railway linking the DRC to Angola's Atlantic port. The US-backed Orion Critical Mineral Consortium has also proposed acquiring a 40% stake in Glencore's Mutanda and Kamoto assets, with the transaction implying a combined enterprise value of about $9 billion and providing Orion rights to direct its share of production to nominated buyers. These moves could gradually diversify DRC mineral trade routes and customers, although China's established processing capacity and infrastructure footprint mean that a significant shift in the supply chain is unlikely to happen quickly.