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Ore shortage to ease
Source: Xinhua |
November 18, 2010, Thursday
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Print Edition
Print Edition
THE shortage of iron ore supplies in China is expected to ease gradually with more domestic mineral discoveries and overseas mining acquisitions, said an industry leader in Tianjin yesterday.
China's iron ore output was set to exceed 1.3 billion tons in three to five years, said Zhou Zhongshu, president of China Minmetals Corp, at the China Mining Conference and Exhibition.
Domestic iron ore supplies had been rising for the last two years, Zhou said. Last year, China's investment in mineral exploration rose 17 percent from the previous year to 27 billion yuan (US$4 billion).
China's iron ore output was set to exceed 1.3 billion tons in three to five years, said Zhou Zhongshu, president of China Minmetals Corp, at the China Mining Conference and Exhibition.
Domestic iron ore supplies had been rising for the last two years, Zhou said. Last year, China's investment in mineral exploration rose 17 percent from the previous year to 27 billion yuan (US$4 billion).
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