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US$5.3b put for mine exploration
Source: Xinhua |
December 25, 2012, Tuesday
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Print Edition
Print Edition
CHINA set aside 33 billion yuan (US$5.3 billion) from central and provincial budgets by the end of 2011 for mine exploration, the Ministry of Land and Resources said yesterday.
A ministry statement said 26.8 billion yuan from the funds were allotted to mineral resources exploration in 4,674 projects between 2006 and 2011.
A total of 585 new mineral deposits were found during the period, including the discovery of a uranium mine in the Inner Mongolia Autonomous Region, one of the world's largest, that could fuel the country's nuclear power.
In 2011, 8.5 billion yuan were invested, with funds in mineral resources exploration taking up 86.3 percent of the country's total fiscal investment in exploration that year.
The funds made up the bulk of China's fiscal input in mineral exploration, the statement said.
Raising money for mineral exploration began in 2006, and 26 provincial-level governments have set up funds so far, in addition to the central fund.
A ministry statement said 26.8 billion yuan from the funds were allotted to mineral resources exploration in 4,674 projects between 2006 and 2011.
A total of 585 new mineral deposits were found during the period, including the discovery of a uranium mine in the Inner Mongolia Autonomous Region, one of the world's largest, that could fuel the country's nuclear power.
In 2011, 8.5 billion yuan were invested, with funds in mineral resources exploration taking up 86.3 percent of the country's total fiscal investment in exploration that year.
The funds made up the bulk of China's fiscal input in mineral exploration, the statement said.
Raising money for mineral exploration began in 2006, and 26 provincial-level governments have set up funds so far, in addition to the central fund.
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