Nation boosts mineral resources, boosts supply

China has achieved remarkable progress in securing its mineral resources and enhancing domestic supply, as highlighted by the Ministry of Natural Resources. The nation has conducted comprehensive evaluations of 163 mineral resources with confirmed reserves, focusing on their quantity, distribution, and development status. Minister Guan Zhiou announced significant breakthroughs in the exploration of strategic resources such as oil, gas, copper, and lithium during a September news conference in Beijing. Additionally, China has established over 1,000 national-level green mines, underscoring its commitment to sustainable development. Vice-Minister Xu Dachun revealed that the discovery of 10 large oilfields and 19 large gas fields during the 14th Five-Year Plan period (2021-25) marks a major milestone. The Ordos Basin in northwestern China has seen a substantial increase in proven geological reserves, exceeding 300 billion cubic meters of methane. China has also revitalized old resource bases, such as the Xiaoyi bauxite mine in Shanxi and the Jiaodong gold mine in Shandong, while new large resource bases for gold, phosphorus, and sylvite are emerging. The Dadonggou gold mine in Liaoning, with an estimated additional reserve of nearly 1,500 metric tons of gold, is poised to become a world-class mine. The newly discovered Asian Lithium Belt, spanning 2,800 kilometers across multiple provinces and autonomous regions, has revealed significant lithium deposits. China’s global lithium reserve share has surged from 6% in 2021 to 16.5%, elevating the country to the second position worldwide. The China Geological Survey (CGS) has identified over 20 million tons of new copper reserves, with potential resources estimated at 150 million tons, positioning the Qinghai-Tibet Plateau as a world-class copper hub. Technological advancements have further improved resource utilization, including the efficient recovery of ultra-fine-grained ilmenite, increasing titanium recovery rates to over 40%. In the Panxi region of Sichuan, more than 87 million tons of titanium resources have been leveraged. CGS and the Hubei provincial government have also made strides in utilizing the superlarge niobium-rare earth deposit in northwestern Hubei, unlocking 929,000 tons of niobium.