A new document from China’s Ministry of Natural Resources highlights major breakthroughs in the discovery of critical mineral reserves as well as oil and gas exploration, CGTN and the South China Morning Post report.
The discoveries, which took place last year, were thanks to increased investment in the effort to boost self-reliance and energy security – in turn, part of Beijing’s drive to protect the country’s national security.
The report was released at last week’s China Mining Conference and Exhibition, held in north China’s Tianjin Municipality.
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It noted that of the 124 mineral deposits discovered in 2023, 16 were limestone (used in construction, including cement production) and 10 were graphite (a critical component of lithium-ion batteries, used in electric vehicles).
In terms of oil and gas exploration, breakthroughs were made in new layers and zones in large oil and gas basins such as Tarim and Junggar in northwestern China, and Bohai Bay off the country’s northeastern coast.
The report also said that significant progress had been made in coal, copper, gold, lithium and phosphorite explorations.
