On May 29th, the 2014 Annual Surveyors’ Meeting, also known as the 8th National 100th Geological Team Leaders Symposium, was held in Xiamen by the China Mining Association. Zhu Xun, the 8th Secretary-General of the National Committee of the Chinese People's Political Consultative Conference and Minister of the Ministry of Mines and Minerals, delivered a speech at the event. He highlighted that China’s resource security faces significant challenges.
In recent years, thanks to the efforts of national geological workers, the prospecting field has seen remarkable progress, with numerous large and extra-large mineral deposits discovered. Especially in the western regions and the Qinghai-Tibet Plateau, new resources have been found in deep and surrounding areas of old mining zones and crisis mines. Many old mines have extended their operational life, and several crisis mines have been revitalized.
According to the Ministry of Land and Resources Information Center, over 466 large and medium-sized mineral deposits were newly discovered between 2011 and 2013, including 174 large-scale deposits. Out of the 45 major minerals, 33 have added proven reserves, significantly enhancing domestic resource support.
Despite these achievements, Zhu Xun emphasized that China’s resource security still faces serious challenges. At the first meeting of the Central National Security Council on April 15 this year, President Xi Jinping stressed the importance of resource security, calling it crucial to the nation’s survival and future.
Currently, many key mineral products are heavily imported. According to incomplete data, 23 out of 45 major minerals are imported, including coal. In 2013, China imported 320 million tons of coal, a 13.4% increase from 2012. Iron ore imports reached 813 million tons, up 9.4%, while oil imports hit 219.59 million tons—4.18 times that of 2000. The trade deficit for mineral products reached $330.447 billion in 2013.
The country’s reliance on foreign resources has also risen sharply. Oil import dependence increased from 32.59% in 2000 to 61.5% in 2013, while iron ore dependence rose from 36% to 58.7%. Nickel, bauxite, and copper import dependencies reached 70%, 74%, and 81.7%, respectively.
Zhu Xun noted that the trend of increasing imports and dependency is likely to intensify in the coming years, making China’s resource security situation increasingly challenging.
More than 700 representatives attended the meeting, the highest number ever. Despite a slowdown in demand and a sluggish mining market, industry leaders chose cooperation and joint development. Experts provided advice to help enterprises navigate difficulties.
Zhong Guo, chief engineer of the Ministry of Land and Resources, stated that over the past decade, China’s geological exploration has advanced rapidly, contributing significantly to improving resource support. Exploration units have seen improved economic strength, and there are still opportunities for further reform and development.
Despite current challenges, Zhong remains optimistic. He pointed out that China will continue its urbanization and industrialization, maintaining high demand for mineral resources. International markets remain positive about China’s demand, and developed economies like the U.S., EU, and Japan are showing signs of recovery, which could boost the mining sector.
Chen Jinghe, chairman of Zijin Mining, shared his insights on the global mining market. While the company’s gross profit margin dropped from 70% to 48% due to market conditions, he believes China’s economy will continue to grow, leading to sustained demand for key minerals, though at a slower pace than before.
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