Future implications of overcoming China's mineral strategy dilemma for the world: Insights from platinum group metals

• Analyzes China’s future mineral strategy and its global resource security impact. • Explores mineral–capital interactions under China’s strategic resource policy. • Uses PGMs industry chain to show need for policy shift toward strategic balance. • Applies ISM to reveal dependencies in PGMs and capital’s role in sustainability. China's New Round of Mineral Prospecting Breakthrough Strategy (NRMPBS), launched in 2023 and grounded in initiatives dating back to 2011, aims to enhance national resource security. However, the strategy confronts a critical imbalance: a disproportionate focus on mineral resources has overshadowed the significance of mining capital. While existing studies predominantly emphasize technological and administrative dimensions, this paper employs Platinum Group Metals (PGMs) as a focal case to construct a multi-layer network model of the PGMs industry chain using Interpretive Structural Modeling (ISM). The results advocate for a balanced approach between resource focus and capital dynamics, suggesting that such equilibrium will not only fortify China’s resource security but also advance the sustainable development of the global mining industry.