November 21, 2008

China’s unproven iron ore to reach 160 billion tonnes

It is reported that Mr Zoujian director of Metallurgical Mines Association of China in an interview on March 3rd 2008 said that the total iron ore reserves in China reached to 160 billion tonnes up to now, among which, 60 billion tonnes have been discovered and still 100 billion tonnes needs to be prospected.

Mr Zoujian said that “Our country is rich in iron ore resources but the prospecting work was not enough notably. There are 100 billion tonnes resources needs to be discovered at present, but it was very deep under earth and difficult to explore. China strengthened the prospecting work in recent two years and found several spot resources reaching to 1 billion tonnes 1000 meters beneath the earth. This resources needs to 5 to 10 years period from prospecting to mining.”