A new report from China’s Ministry of Natural Resources highlights significant breakthroughs in the discovery of critical mineral reserves, as well as advancements in oil and gas exploration, according to CGTN and the South China Morning Post.
These discoveries, made in 2023, are attributed to increased investments aimed at enhancing self-reliance and energy security, which are part of Beijing’s broader strategy to safeguard national security.
Released at the recent China Mining Conference and Exhibition in Tianjin, the report detailed the discovery of 124 mineral deposits, including 16 limestone deposits, essential for construction and cement production, and 10 graphite deposits, crucial for lithium-ion batteries used in electric vehicles.
Additionally, breakthroughs in oil and gas exploration were noted in key basins, such as Tarim and Junggar in northwestern China, and Bohai Bay in the northeast. The report also indicated significant progress in the exploration of coal, copper, gold, lithium and phosphorite.
