Investment grows in search for mineral resources
China DailyOil derricks operate at Daqing Oilfield Co. China has stepped up investment in mineral resources exploration to bolster reserves and production, according to a bulletin released recently by the Ministry of Natural Resources. Newly confirmed reserves of petroleum exceeded 1.2 billion metric tons for a fourth consecutive year last year, while newly discovered reserves of natural gas, shale gas and coal-bed methane have totaled more than 1.2 trillion cubic meters for five consecutive years. In October, China's first deep coal-bed methane field with proven reserves exceeding 110 billion cubic meters was discovered at the eastern edge of the Ordos Basin in Shaanxi province. China discovered 124 non-oil and gas mineral fields last year, with 96 large or medium-sized, a year-on-year increase of 12.9 percent.
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Investment grows in search for mineral resources
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