When the global wave of the new energy industry sweeps across the globe and competition over critical mineral resources intensifies, a private enterprise that began in Tongxiang, Zhejiang has, through more than two decades of persistence and pioneering spirit, forged a remarkable path—from a follower in the global resource landscape to an industry leader. The 22nd issue of the ZIBS CCM Monthly Issue takes Huayou Cobalt as a case study, examining how the company has evolved from passively responding to industry cycles to proactively shaping its own trajectory of development.

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