The implications of the lack of natural resources in China and its implications globally and in Africa in particular are presented. China has quickly become a major producer of many metals and minerals. The country also has a near-monopoly on rare earths, tungsten, and other metals. The specific geological parameters of China, with few high-grade deposits of substance, have to a large extent determined the structure of the Chinese iron ore industry, where small and medium-size mines account for most of the production. The depletion of deposits and declining competitiveness has resulted in a growing share for the larger mines. The average grade of Chinese production is likely to be considerably lower than the 30% often assumed, and the production grade in its major mines is less than 25%. Most major and medium-sized mines are owned and operated by the major steel companies, most of which are state-owned with only a few of the major or medium mines being independent.