Latest News:  
Beijing   Sunny/Overcast    7 / 0   City Forecast

People's Daily Online>>China Business

NW China province to invest heavily in mineral industries

(Xinhua)

13:21, November 27, 2011

XINING, Nov. 26 (Xinhua) -- Northwest China's Qinghai province plans to invest nearly 18 billion yuan (2.82 billion U.S. dollars) in the coming five years to exploit its rich mineral resources, the local government said Saturday.

According to the province's plan for geological prospecting during the 2011-2015 period, Qinghai has budgeted 17.9 billion yuan for excavating coal, iron, gold, potassium salt, copper, lead, zinc and cobalt, the provincial land and resources department said in a press release.

It said at least 10 billion yuan of the investment will be coming from mining companies and other funds, 5 billion yuan will be appropriated by the central treasury, and the remaining 2.5 billion yuan will be allocated by the provincial treasury.

The budget is more than five times the 2006-2010 spending, which totaled 3.4 billion yuan, the document said.

Qinghai province has reported new discoveries of coal, iron ore, gold and silver reserves in the past five years, and geologists see huge potentials for further excavation.

The province also boasts rich hydropower, petroleum, natural gas and non-ferrous metal resources.

Email|Print|Comments(Editor:梁军)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. 'China committed to green policies'

  2. NASA launches "curiosity" rover to Mars

  3. Syrians demonstrate in support of president Assad

  4. Body insurance: World's most expensive legs and breast

Most Popular

Opinions

  1. Protecting monetary sovereignty
  2. Think competitively
  3. Public anger hits the roof
  4. Zero-sum mentality should be ditched
  5. US expected to contribute to Asian economy
  6. No end in sight for economic doldrums
  7. China supports UN green industry initiative
  8. It's proved a wise decision
  9. The role that US plays in Asia
  10. Addressing climate change

What's happening in China

Cheers to the newlyweds

  1. 113 sentenced over tainted pork scandal
  2. Xiamen to open govt jobs to Taiwan residents
  3. Increase in foreign airline complaints
  4. Chongqing lets guide dogs for blind in public
  5. Heavy fog disrupts traffic in Liaoning Province

PD Online Data

  1. The lion dance in Guangzhou
  2. The flower fair in Guangzhou
  3. Lion dances pay New Year calls in Guilin
  4. Jiangsu´s special New Year traditions
  5. Hakka traditions in Spring Festival