China invested more than $85.18 billion in geological exploration for five years

Almaty. September 23. Silkroadnews – More than 730 mineral deposits were discovered in China over the past five years, «Xinhua» agency reports.

«Over the recent five years China has allocated 568.2 billion yuan ($85.187 billion at the rate of 6.67 yuan per dollar) to exploration that allowed to discover more than 730 mineral deposits», the publication says with reference to Jiang Daming, Minister of Land and Resources of China.

He noted that over the past five years the country has achieved a significant progress in the exploration of mineral resources. The total volume of primary energy resources explored reached 11.7 billion tonnes of reference fuel, 6.8 billion tonnes of iron ore, 200 million tonnes of 10 kinds of nonferrous metals.

At the same time, the report said, the country marked a continuous development of foreign trade in minerals. In five years the total volume of exports and imports of mineral products amounted to around $5 trillion having grown 81%.
The Minister added the mining industry development serves a driving role for the Chinese economy.

In the past five years the country discovered 256 large and 480 medium-sized deposits of solid minerals as well as oil and gas fields with 100 million tonnes of oil and 100 billion cubic meters of natural gas reserves.

$1 = 6.67 yuan