Top Biz News
China discovers 3.52b tonnes of iron ore in 2009
(Xinhua)
Updated: 2010-04-10 00:22
 |
Large Medium Small |
BEIJING - China discovered 3.52 billion tonnes of proven iron ore reserves in 2009, the Ministry of Land and Resources said in a report released on its Web site Friday.
That was among the 398 medium- to large-sized mineral deposits newly discovered in 2009, an almost 10-year high, the statement said.
It also said newly-found proven oil reserves hit 1.12 billion tonnes and newly-discovered natural gas reserves reached a record 723.4 billion cubic meters.
Proven iron ore reserve totalled nearly 10 billion tonnes in major deposits in the provinces of Liaoning, Hebei, Shandong, Sichuan and Anhui, the statement said.
"China's domestic supply capacity in iron ore is growing steadily as new mines start operation," the statement said.
Analysts said increasing domestic supplies of iron ore will reduce Chinese mills' dependence on foreign iron ore suppliers, which means a bigger say in price talks.
