China to increase mineral exploration

China National News (IANS) Thursday 9th February, 2012

China is going to increase mineral exploration and development within a decade to keep up with its rapidly growing demand, as it believes dependency on foreign sources for energy and minerals can threaten its security.

Addressing a national videoconference in Beijing, Xu Shaoshi, minister of land and resources, said China plans to increase mineral exploration and development within 10 years, the China Daily reported.

The minister said the country faces a major challenge in meeting the soaring demand for minerals and energy, with peak demand for energy expected to come between 2025 to 2035.

China's dependency on foreign sources for energy and many minerals threatens the country's security, Xu said.

China has discovered 172 varieties of minerals, 159 of them with proven reserves; of these, 45 are considered key minerals.