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China has found 730 mineral deposits

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China has found 730 mineral deposits

China has found 730 mineral deposits
October 06
16:00 2016

The People’s Republic of China has been strenuously engaging in the geological exploration for the last five years. 568.2 billion yuan ($ 85.2 billion) were allocated for this project. Of course, this has already brought results. More than 730 mineral deposits have been found in China. This was told by Jiang Daming, Minister of Land and Resources of China.

At the opening of the China Mining Conference Jiang Daming said that China had made a significant progress in the exploration over the past five years. The total number of the found reserves of the primary energy has amounted to 11.7 billion tons of the standard coal, 6.8 billion tons of iron ore, 200 million tons of the ten non-ferrous metals.

At the same time China was experiencing the development of the foreign trade in minerals. Export and import of mineral products have amounted to $ 5 trillion over 5 years. According to the Xinhua news agency, it is an increase of about 81%. According to Jiang Daming, mining is a major branch of the Chinese economy. China has become the world’s largest producer and consumer of mineral products as well as the world’s leader among the suppliers of minerals.

According to the official information, 256 large and 480 medium solid mineral deposits have been found in China for 5 years. In addition, a number of oil and gas deposits have been discovered. The reserves of the fields are estimated at least 100 million tons of oil and 100 billion cubic meters of natural gas.

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