Including Tungsten and Molybdenum Mines, 79 Deposits Discovered Nationwide

Including tungsten and molybdenum mines, 79 mineral deposits are discovered nationwide recently. The Ministry of Natural Resources recently released the "China Mineral Resources Report (2020)". The report disclosed that in 2019, the national investment in geological exploration was 99.34 billion yuan, of which the investment in oil and gas geological exploration was 82.129 billion yuan, an increase of 29%; the investment in non-oil and gas geological exploration was 17.211 billion yuan, a decrease of 0.9%. There are 79 newly discovered mineral deposits nationwide, of which 55 are large and medium-sized.

By the end of 2019, the reserves of 34 important mineral resources including natural gas, manganese and bauxite had increased. Investment in fixed assets in the mining industry increased by 24.1%, and the output and consumption of 10 non-ferrous metals, gold, and cement continued to rank first in the world.

In 2019, the newly-added proven geological reserves of petroleum were 1.12 billion tons, of which 160 million tons were newly-added proven technically recoverable reserves. The newly-added proven geological reserves of shale gas were 764.42 billion cubic meters, of which, the newly-added proven technically recoverable reserves were 183.84 billion cubic meters.

An increase of 30.01 billion tons of coal is a significant drop from the previous year. Major metal minerals include manganese, copper, lead, zinc, tungsten, molybdenum, silver, etc., including iron ore (787, -5.00, -0.63%), nickel, tin, and gold. decline. Phosphate and graphite in non-metallic minerals increased significantly.

The report pointed out that our country's mining ecological restoration efforts have been continuously increasing. Study and formulate policies for encouraging social capital to invest in ecological restoration of mining areas, implement major national strategic decisions, and deploy ecological restoration of historical mines in key areas such as the Yangtze River Economic Belt, the Yellow River Basin, the surrounding Beijing-Tianjin-Hebei region, and the Fenwei Plain.

Our country's mineral resources management has been further improved. In December 2019, the Ministry of Natural Resources issued the "Opinions on Promoting the Reform of Mineral Resources Management (trial)" to establish and implement the mining rights transfer system, optimize the management of oil and gas mining rights, and reform the classification and management methods of mineral resources reserves, and made a series of major institutional innovations.

In 2020, our country has launched a new round of mineral resources planning, researched, and drafted relevant supervision and management measures for the geological prospecting industry, implemented new classification standards for mineral resources reserves, optimized mining rights management transfer methods, and improved paleontological fossil supervision. The system further improved the management level of mineral resources. After the outbreak of the new crown pneumonia, the Ministry of Natural Resources introduced measures to implement the requirements of the "six stability and six guarantees" to help enterprises resume work and production.

The level of basic geological survey work has been further improved in our country. Our country has made breakthroughs in mineralization theory and key technologies, promoted scientific innovation in the field of mineral resources, and built multiple key laboratories and engineering technology innovation centers. Promoting the standardization of geology and mineral resources provides technical support for the high-quality development of the geological and mineral industry.

Besides the discoveries of new deposits, such as tungsten and molybdenum mines. International cooperation in geology and mineral resources has been further strengthened. Our country actively implements the results of the second “Belt and Road” International Cooperation Summit Forum to promote bilateral and multilateral cooperation in the field of geology and minerals.

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