SunSirs: Main Mineral Products Supply Situation of China

At the 2025 China International Mining Conference held recently, the Ministry of Natural Resources released the "China Mineral Resources Report (2025)" (hereinafter referred to as the "Report"). The Report shows that China invested 115.994 billion RMB in geological survey funds last year, achieving positive growth for four consecutive years. A total of 150 new mineral deposits were discovered nationwide, including 49 large, 54 medium, and 47 small. The top minerals discovered in terms of quantity are 9 common fluorite, 8 lithium deposits, 8 gold deposits, and 8 iron deposits.

The report shows that China has made significant progress in its new round of strategic actions to break through mineral resources, achieving a series of major breakthroughs in key ore belts and large oil and gas basins. In terms of oil and gas mineral resources, major breakthroughs have been made in new strata, new belts and new types in the Tarim Basin, the Junggar Basin, the Sichuan Basin, etc. In terms of non-oil and gas mineral resources, the exploration of copper, iron, phosphorus and other major mineral resources has achieved remarkable results, with a significant increase in resource reserves. Progress has been made in the exploration of strategic mineral resources such as lithium, zirconium, hafnium, rare earths and helium, and the resource advantage of tungsten, molybdenum, antimony, fluorite and graphite has been further consolidated.

The report shows that in 2024, China's mining industry fixed asset investment increased by 10.5% over the previous year, the output of 10 kinds of non-ferrous metals continued to grow, and the output of energy mineral resources such as coal, crude oil, and natural gas set new historical highs. The fixed asset investment in the mining industry has increased for 4 consecutive years, and the supply of major mineral products has remained stable and increased.

It is reported that China has invested nearly 450 billion RMB in mineral exploration during the "14th Five-Year Plan" period, achieving a number of major breakthroughs in mineral exploration, and the capacity to ensure energy and resource security has gradually increased and the structure has been continuously optimized. Data shows that during the "14th Five-Year Plan" period, China has discovered 10 large oilfields and 19 large gas fields, while deep coal seam gas exploration has achieved major breakthroughs, with the Ordos Basin adding more than 300 billion cubic meters of proven geological reserves, approaching the total increase in the past 10 years. These reserves mainly come from the deep layer of large basins and deep water offshore. The increase in new oil and gas reserves has greatly supported and guaranteed the stable production of China's oil at 200 million tons and the production of natural gas exceeding 240 billion cubic meters.

Promoting the green development of mining and fully implementing green exploration. In 2024, China accelerated the construction of green mines, improved standard norms, and perfected the list management. Promoting the comprehensive conservation and rational utilization of mineral resources, and issued and implemented the "three rates" standards for 125 types of mines, the level of comprehensive utilization of mineral resources in China is leading in the world. At the same time, it has improved the legal system of ecological restoration incentives and constraints in the mining area, promoted the ecological restoration of historical abandoned mine areas, and promoted the improvement of the ecological conditions in the mining area and the surrounding living environment.

Deepening the reform of mineral resources management and improving the governance system of mineral resources. The new "Mineral Resources Law of the People's Republic of China" revolves around ensuring the security of the country's mineral resources, effectively safeguarding the legitimate rights and interests of mining rights holders, and creating a fair, transparent, and predictable market competition environment, making a series of innovative institutional provisions. At the same time, relevant departments have increased policy supply, strengthened the planning, guidance, and control of mineral resources, deepened geological exploration, mineral resources reserve management, and market-oriented allocation of mining rights, and continuously optimized the guidance for foreign investment.

Strengthen scientific and technological innovation in the field of mineral resources and enhance the capacity to support resource security. In 2024, China issued and implemented 10 national standards and 85 industry standards in the field of mineral resources, and the major deep earth science and technology special project was officially approved and implemented. Various scientific and technological innovation platforms focused on basic theoretical research, key technology research, and engineering research and development, actively serving major strategic tasks such as the new round of mineral exploration breakthrough strategy action in the field of mineral resources.

At the same time, China has strengthened its international cooperation in the mining industry and promoted the prosperity of the global mining market. China has continued to carry out international exchanges and cooperation in the field of mineral resources in various ways, actively maintained contact with relevant energy and resource countries and international organizations, relaxed market access for foreign capital, and the level of opening up in the mining industry has been continuously improved.

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