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Xinjiang Put in a Tender for Prospecting Copper Mine
Recently an announcement was jointly issued by the Ministry of Land and Resources and the People's Government of Xinjiang Uygur Autonomous Region to tout for investment and bids for the exploration of copper mine in the eastern part of the Tianshan Mountains, which is located at 42กใ00'-42กใ30' North Latitude and 91กใ38'-94กใ00' East Longitude.
The business solicitation and bid-calling is divided into nine regional units, of which four are set aside for bids, i.e., the State will transfer the right of prospecting mines in the mountain while the other five are for drawing investment, which are now in the hands of the Bureau of Geology and Mineral Resources of Xinjiang. Anyone who intends to invest in these units can negotiate with the present proprietor to carry out copper mine prospecting by way of joint venture, cooperation or purchasing the right of exploration.
Any enterprise of non-legal persona set up in conformity with the law by foreign investment enterprises and companies in China, Chinese enterprises and other economic organizations, if conforming to the terms and conditions for exploration of an applicant as governed by relevant regulations and documents, can attend the bidding activity. However, joint bidding by investors and local geological exploration organizations of Xinjiang is encouraged.
The newly discovered copper mine in the east of the Tianshan Mountains is an extra-large one in China. According the initial exploration, it stretches 800-1,400 meters long and 50-200 meters wide with a maximum depth of 380 meters. As estimated by experts it has a reserve of over 10m tons. What's more, the type of mineral ores is very simple, and so the retrievable rate is higher than 92 percent, and the assorted minerals like gold, silver and molybdenum are all exploitable.
By PD Online staff member Deng Gang
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