Non-govt investment invited in mineral exploration

Enterprises should be the main investors in commercial mineral projects, and government funding will not enter exploration projects that could be invested by enterprises, reported China Securities Journal, citing a guideline jointly issued by four ministries and commissions.

The guideline, issued by the Ministry of Land and Resources, National Development and Reform Commission, Ministry of Science and Technology and Ministry of Finance, stated that the dominant position of non-government capital investment in commercial mineral explorations should be established as an important factor in the overall mineral exploration strategy.

The guideline also noted that the focus should be energy resources, scarce resources and new material resources.

The key mineral resources include petroleum, natural gas, uranium, iron, copper, etc. And a new batch of mineral exploration projects will be established in eight to ten years to reshape the country's mineral exploration pattern, according to the guideline.