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China's resources underutilized

(Guangming Daily)

16:34, November 07, 2011

Edited and Translated by People's Daily Online

Beijing, Nov.3 (People's Daily Online) --A new government report shows that China has a wealth of unexplored resources, and only 36 percent of the country's mineral deposits have been discovered.

According to the China Mineral Resources Report, issued by the Ministry of Land and Resources on Nov. 3, the exploration rate of the country's iron and bauxite deposits only reached 27 percent and 19 percent, respectively.

Zhang Hongtao, chief engineer at the ministry, said that according to a nationwide survey of China's oil and gas resources, the country's oil resources are in the middle stage of exploration and development because only 26 percent of its oil deposits have been explored. The exploration rate of its natural gas resources only reached 15 percent, indicating that the country is still in an early stage in developing its natural gas resources.

China has become one of the largest producers and consumers of mineral products in the world, ranking first worldwide in the output and consumption of coal, steel, 10 types of nonferrous metals and cement. From 2006 to 2010, the country's total output of coal rose 28 percent from more than 2.5 billion tons to 3.2 billion tons, its crude oil output rose 10 percent from 185 million tons to 203 million tons and its natural gas output rose 65 percent from 58.6 billion cubic meters to 96.8 billion cubic meters.

Zhang said that China has completed the evaluation of the reserves of 13 key minerals, including coal, uranium, iron, copper, aluminum, lead, zinc, tungsten, antimony, rare earth, gold, potassium and phosphorus.

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During the 11th Five-Year Plan period (2006-2010), China has spent 370.8 billion yuan on geographical exploration and found more than 2,800 new mines. The proven reserves of many important minerals have increased and major breakthroughs have been made in the exploration of the country’s natural resources, such as oil, natural gas, coal, iron, copper, aluminum, lead, zinc and gold.


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