China discovered a total of 124 new mineral deposits in 2023, marking significant progress in both oil, gas and mineral exploration, according to a report released by the Ministry of Natural Resources on Tuesday.
According to the report "China Mineral Resources 2024", by the end of 2023 China's coal reserves increased by 5.6 percent compared to the end of 2022, and the remaining technically recoverable reserves of oil and natural gas increased by 1.2 percent and 2.6 percent, respectively.
The reserves of metal minerals increased by more than 30 percent, and the reserves of nonmetallic minerals also increased significantly, said the report.
The report highlighted major breakthroughs in oil and gas exploration within large basins such as the Tarim Oilfield, the Junggar Basin and the Bohai Oilfield. Notable progress has also been made in the exploration of minerals such as coal, copper, gold, lithium and phosphorus.
"China's investment in mineral exploration has seen growth for three consecutive years, discovering 124 new mineral deposits in 2023. The country's supply of major mineral products increased steadily, energy output hit a record high, and the energy structure continued to optimize," said Yu Haiyang, director of the Strategic Planning Division of the ministry's Mineral Resources Protection and Supervision Department.
China discovers 124 new mineral deposits in 2023: report
