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China will run short of 25 kinds of minerals by 2020

(People's Daily Online)

16:26, February 24, 2012

Edited and translated by People's Daily Online

Over the past 15 years, China's demand for energy resources is growing rapidly. Domestic consumption of mineral resources has maintained double-digit growth.

There has been a sharp rise in imports of petroleum, iron, copper, aluminum, potassium and other bulk minerals. Of all the imports, oil accounts for 54.8 percent, iron ore 53.6 percent, refined aluminum 52.9 percent, refined copper 69 percent and potash 52.4 percent.

China’s consumption of coal, steel, aluminum, copper, cement, lead, zinc and other bulk mineral has become the largest in the world, and its oil consumption ranks second in the world.

The next 10 to 20 years is an important period for China's industrialization, urbanization and agricultural modernization. The demand for mineral resources presents a rigid upward trend, and the constraints of resource shortage on China's economic development will be more significant.

According to analysis of recoverable reserves of 45 kinds of major mineral, by 2020, 25 kinds of minerals will pose a shortage, including 11 kinds of pillar mineral for China’s economy. According to existing proved reserves and predicted demand, China still has to import large amount of oil, iron, copper, aluminum, potassium, and other bulk minerals from other countries

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