Energy Insider: Geopolitical Tensions Drive Calls for Deeper Energy Cooperation
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Global energy transition requires deeper international cooperation
Rising geopolitical tensions are highlighting the need for energy security and the global energy transition, which require deeper international cooperation across renewable energy supply chains, speakers said at the China Development Forum on March 22. According to the International Energy Agency, total global metal demand will increase sixfold by 2050, with lithium and cobalt jumping nearly fortyfold. Jeremy Weir, chairman of commodity trader Trafigura Group Pte. Ltd., warned of supply shortage risks for essential minerals, noting that by 2035, global copper demand is expected to grow by 40%, yet existing mines and committed projects will only cover about half of the increment.
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- Global energy transition needs more international cooperation, with metal demand set to rise sixfold by 2050 and potential copper shortages by 2035.
- The Middle East conflict has more than doubled aviation fuel prices, disrupted flights worldwide, and increased new-energy vehicle sales in China.
- Zijin Mining’s 2025 net profit exceeded 50 billion yuan, and a former China Coal Energy executive is under investigation for suspected violations.
- Trafigura Group Pte. Ltd.
- Trafigura Group Pte. Ltd. is a commodity trader. Its chairman, Jeremy Weir, highlighted at the China Development Forum the risk of supply shortages for essential minerals needed for the global energy transition. He noted that by 2035, global copper demand is projected to increase by 40%, while current mining projects will only fulfill approximately half of this additional need.
- Zijin Mining Group Co. Ltd.
- Zijin Mining Group Co. Ltd.'s net profit exceeded 50 billion yuan for the first time in 2025. President Lin Hongfu anticipates sustained high gold prices, despite recent volatility caused by the Middle East conflict. Even with a 20% drop to $4,250 an ounce, current gold prices are 26.7% higher than 2025's average.
- China Coal Energy Co. Ltd.
- Zhang Guoxiu, a former vice president of China Coal Energy Co. Ltd. (601898.SH), is currently under investigation for suspected severe violations of discipline and law by Anhui province's graft busters. This investigation was announced on March 24, merely four days after Zhang resigned from the state-owned coal mining giant due to personal reasons.
- Four days before March 24, 2026 (March 20, 2026)：
- China Coal Energy announces Zhang Guoxiu's resignation for personal reasons.
- Ten days before March 23, 2026：
- Iran establishes a de facto 'safe' shipping corridor through its territorial waters in the Strait of Hormuz.
- March 22, 2026：
- Speakers at the China Development Forum highlight the need for deeper international cooperation for the global energy transition and quote IEA projections through 2050.
- Early hours of March 23, 2026：
- The Panama-flagged container ship Newvoyager becomes the first Chinese-owned cargo vessel to navigate Iran's new shipping corridor.
- March 23, 2026：
- Zijin Mining Group holds an earnings briefing where President Lin Hongfu discusses the company's 2025 net profit surpassing 50 billion yuan and outlook for gold prices.
- March 2026：
- China Passenger Car Association projects NEVs will account for about 900,000 of the estimated 1.7 million passenger cars sold, with NEV penetration reaching 52.9%.
- March 24, 2026：
- Authorities announce the investigation of Zhang Guoxiu, former vice president of China Coal Energy, for suspected serious violations, four days after his resignation.
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