China relies more heavily on mineral imports
Source:Global Times Published
China's development requirements mean an increasing reliance on imported oil, iron, gold and other minerals, the Ministry of Natural Resources said on Tuesday.
China has overtaken the US as the world's biggest crude oil buyer, and China relies heavily on imports of cobalt, nickel and lithium to develop strategic emerging industries, Ju Jianhua, a ministry official said at a press conference on Tuesday.
China is increasingly dependent on imports for 95 percent of chrome, 90 percent of cobalt, 79 percent of gold, 73 percent of copper, 73 percent of iron ore and 67 percent of oil, the ministry's website quoted Ju as saying.
China's need for mineral resources is also reflected in the slow growth in detecting and developing mineral resource reserves and insufficient innovation and pollution from small and medium mines, Ju said.
"The amount of mineral resources imported has exceeded the expectations of many experts, and the heavy reliance of imports poses a great risk to China," Lin Boqiang, director of the China Center for Energy Economics Research at Xiamen University, told the Global Times on Wednesday.
For example, Lin said that possible oil price fluctuations in wartime could lead to an economic shock.
Lin said China should find an alternative for some mineral resources and called on all enterprises and individuals to conserve their use.
The newly confirmed reserves of domestic oil, natural gas and coal have decreased in 2017, with oil reserve dropping from 1.5 billion tons in 2012 to 877 million tons in 2017, and natural gas from 961 billion cubic meters to 555 billion cubic meters, the ministry said.
At the press conference, Ju called on China to strengthen international cooperation on mineral resources to solve soaring import costs.
China is working with other countries in exploiting mineral resources, including iron and copper.
Peru's energy and mine authority recently approved the application of the Zhongrong Xinda Group, a Qingdao-based company on energy, chemicals and minerals development, the company told the Global Times on Wednesday.
The company owns 30 mineral rights in Pongo, Peru covering a total of 263 square kilometers. Pongo's mining projects contain deposits of gold, iron and copper estimated to be worth $10.5 billion, the company said.
"It's important for China, the world's largest consumer of iron ore and largest producer of steel, to establish its own quality iron ore base, and Chinese companies should strive to build a successful overseas mineral base to offer resource support to China's economy," according to information the company sent the Global Times.
The Metallurgical Mines Association of China said China could import an estimated 1.1 billion tons of iron ore in 2018.
Newspaper headline: Greater reliance on mineral imports
本周三，厦门大学玩老虎机能源经济研究中心主任林伯强接收环球时报采访时称：“进口的矿产资源量超越了许多专家的预期, 进口的严峻依赖性给玩老虎机带来了巨大的风险。”林柏强表示，战争导致的油价波动可能会引起经济震荡。玩老虎机应该寻找一些矿产资源的替代品, 并呼吁一切企业和个人节约使用。
国家自然资源部表示, 新确定的国内石油、自然气和煤炭储量在2017年有所下降, 石油储量从2012年的15亿吨降至2017年的8亿7700万吨, 自然气从9610亿立方米降至5550亿立方米。
秘鲁能源和矿业部最近批准了玩老虎机集团,一家位于青岛的能源、化工和矿产开拓玩老虎机的申请。该玩老虎机拥有秘鲁邦沟矿的30个矿权, 占地面积263平方公里。该玩老虎机表示, 邦沟矿的矿业项目中, 黄金、铁和铜的储量估值为105亿美元。该玩老虎机在提供应全球时报的信息中表示："对于玩老虎机这个世界上最大的铁矿石消费国和最大的钢铁生产国来说, 树立自己的优质铁矿石基地是很重要的, 玩老虎机企业应该努力建设一个胜利的海外矿产基地, 为玩老虎机经济的开展提供资源上的撑腰。"