News
Global cooperation vital for mining industry
By Wang Qian (China Daily)
Updated: 2009-10-22 08:49
 |
Large Medium Small |
|
The China Mining Expo, held in Tianjin, has rapidly established itself as the premier opportunity for senior representatives from the domestic and international mining industry to enhance their face-to-face opportunities for in-depth mutual exchange, communication and cooperation. Li Zhentao |
China is stepping up its efforts to strengthen internationalcooperation in the mining industry as part of a bid to meet the huge demand of the globally recovering economy and resurgent mineral resource prices.
Wang Min, vice-minister of the Ministry of Land and Resources, said the global mining industry is entering a phase of rapid mineral consumption as a direct result of the economy-stimulating measures undertaken by several countries.
Speaking in Tianjin, at the opening ceremony of the China Mining Congress & Expo 2009 on Oct 20, Wang said: "In the light of a boom in demand, both inside and outside of domestic mining market, all countries should be open to competition within their mining sectors. This will provide a healthy business environment for domestic and foreign investors."
China will further improve its own mining system and establish guidelines to guarantee foreign investor's rights under a better and healthier market environment, he said.
As well as improvements to the domestic market, a new international price-setting system for mineral resources should also be established to promote the stable and rational development of the international mining industry, according to Wang.
He said: "The continuous increase in demand for mineral resources, both domestically and abroad, demonstrates the needs for international cooperation in mineral surveying and exploitation."
According to recently released figures, some 200 new oil fields have been discovered across the world, an added boost to countering the economic slowdown.
China's mining development policies are believed to have played a positive role in the global mining market's revival, Wang said, indicating his belief that international cooperation will ensure a bright future for the sector.
In terms of new natural resources within China, a large reserve of gas hydrates was discovered in the west of the country earlier this year, whilst substantial deposits of iron ore were uncovered in Liaoning, Hebei, Anhui and Shandong.
Between January and August of this year, more than 44 billion yuan ($ 6.47 billion) was invested in the country's mining industry, a year-on-year increase of 18.9 percent, according to figures from the Ministry of Land and Resources.
According to Liu Yanhua, vice-minister of the Ministry of Science and Technology, now charged with the goal of doubling the nation's gross domestic output by 2020, China is expected to consume 510 million tons of oil, 20 million cubic meters of natural gas, 3.7 billion tons of coal, 400 million tons of steel, 6.6 million tons of copper and 13 million tons of aluminum within the next 10 years.
This means China faces a shortfall of 6 billion tons of oil, 600 million cubic meters of natural gas, 3.5 billion tons of steel, 50 million tons of copper and 60 million tons of alumina over the next few years, Liu warned.
Speaking at the China Mining Congress & Expo 2009, Liu said he hoped the conference would provide an international stage for countries to communicate and cooperate at both the business and technology level.
The conference has been held annually since 1999. Last year, almost 3,500 delegates from around 50 countries and regions, represented at some 400 stands, attended the conference and exhibition. This year the number of booked stands is said to be in excess of 450.
(China Daily 10/22/2009 page12)
