A mine with total proven metal reserves of 1.56 million mt has been discovered near Pobei and Xuanwoling in Ruoqiang County in China’s Xinjiang autonomous region with the backing of China’s Central Geological Exploration Fund, as announced by the country’s Ministry of Land and Resources. The metal reserves in question include 1.28 million mt of nickel, 220,000 mt of copper and 60,000 mt of cobalt.
In 2006, China’s Ministry of Land and Resources and Ministry of Finance jointly established the Central Geological Exploration Fund to develop mineral resources in China. To date, a total of 53 large and medium-sized mines have been discovered in China with the support of this fund.
The discovery of these nickel reserves is significant against the background of China’s increased volume of nickel imports.