Mineral resources which have been discovered so far in China account for 12 percent of the world's total, following US and Russia. However, the resources per capita is merely 58 percent of the world's average, ranking the 53rd in the world. Generally, China is a populous country with insufficient resources.
This map of China's mineral resources endowment was depicted by Meng Xianlai, Director of Bureau of Geological Investigation recently.
He thought that the country would have to consume more mineral resources than ever to fuel its modernization. He has noticed that the country's fast growing national economy has been whetting its appetite for important minerals like oil, iron, copper and aluminum. As a result, consumption of mineral resources is rising faster than the storage.
Imports of ores have been inflating in recent years to deal with the domestic supply shortfall, which in turn has led to swelling trade deficit.
Meng is concerned about the possible adverse influence on the national economic security and sustainable development due to the overdependence on foreign supply. He recognized that the shortage of important mineral resources has constituted a bottleneck to the sustainable development of the economy and society.
Meng believes that exploiting both the domestic and overseas resources is the right solution to the problem. "Mineral resources are global. It is impossible for any country to rely on its own resources to fuel its development," said Meng.
He suggested further international cooperation and exchanges on geology, as well as efficient use of overseas resources, so as to strengthen the participation into and diversify the use of foreign resources. ¡°WTO makes it possible¡±, he said.
In the mean time, he stressed, more efforts should be focused on discovery of more resources and promotion of commercial geological missions.
He disclosed that China¡¯s west had great potential for mining. And rich resources are expected under the earth below 500 meters in the east.
Meng also made suggestions on more efficient use of the country¡¯s mineral resources. In his opinion, basic geological assessments should give the whole community an access to the information which reduces risks of commercial exploitation. This will give a spur to the development of resources.
He urged to place priority on the surveying of strategic resources, especially oil and gas. Researches and assessments should be mainly focused on new land areas and major offshore basins where oil and gas resources are rich. Studies should also be conducted on unconventional energy such as gas hydrate and oil shale.
He also pins his hope for more mineral resources on the geological prospecting in the east and west part of the country.
