Resource supervision system unveiled (China Daily) Updated: 2006-05-15 08:57
By the end of 2007, a dynamic reserve supervision system will be
established in mines throughout the country, the Ministry of Land and Resources
unveiled on Friday.
The move is of great significance to the country's
effort to build a "resource saving society" and prod domestic mining enterprises
to cherish and make logical use of natural resources, said Guan Fengjun,
director of the reserve management department of the ministry.
By the end
of 2007, all mining enterprises in the country will have to form a mechanism to
finish their annual reserve reports, which include reserve-related information
such as the conservative and accumulative reserve estimation, the volume of
reserves which were either exploited or lost in a year, any quality change in
ores and the planned exploitation volume for the next year.
The report
will then be submitted to resources management departments before the end of
January of the next year.
Twenty-four provinces, autonomous regions and
municipalities already use this system, Guan said.
"The dynamic
supervision system can help resource management departments at various level
ascertain their own reserves, which is a problem that has haunted mines in the
country for years," said Guan.
Mining enterprises that do not submit the
annual report will not be allowed to operate the next year.
Mining
enterprises can pick a local geology survey organization to conduct the survey
of their annual reserves while their management department will ask the survey
organizations to inspect each other or organize an expert team to make random
checks.
The ministry will be in charge of the supervision of oil and
natural gas in the future. Supervision of radioactive minerals will be entrusted
to China National Nuclear Corporation.
Provincial-level land and
resources bureaus will be responsible for supervision of other
minerals.
In order to meet the increasing demand and possible supply
shortages in the future, China will form its own strategic reserve of important
minerals, such as uranium, aluminium and copper, the International Finance News
quoted sources with the Ministry of Land and Resources as
saying. (For more biz stories, please visit Industry Updates)
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