On October 23, the China Mining Association reported that this year, China has made significant achievements in mineral exploration, with over 80 newly discovered mineral sites, about 70% of which are medium to large-scale. The newly proven geological reserves are estimated to be about 2.5 billion tons of ore equivalent, an increase of around 20% year-on-year.
Among them, China’s lithium exploration results are globally leading, and China’s lithium reserves are expected to account for about 20% of the world total. In addition, bauxite is expected to increase by about 300 million tons, coal by about 12 billion tons, and oil by over 1 billion tons. The reserves of tungsten, tin, phosphate, and other minerals are expected to increase by approximately 25% year-on-year.
Cheng Liwei, president of the China Mining Association, stated that the new mineral reserves have alleviated China’s mineral import pressure and optimized the mineral structure, with strategic minerals already accounting for 40%. The growth rate of strategic emerging minerals exceeds 50%, far surpassing traditional minerals, providing high-quality raw material support for the mining industry chain and promoting a transition from resource dependence to value-driven growth.
While progress has been made in geological exploration, the “green” aspect of the exploration process has also been continuously improving. Currently, green exploration projects account for 90% of the total, carbon emission intensity has decreased by 15% compared to the previous year, and ecological restoration projects have covered 95% of the exploration areas.