MAC: Mines and Communities

China Update

Published by MAC on 2006-11-15

China Update

15th November 2006

China's investment in mining industry up 33.4 % in first three quarters: official

Source: Xinhua

15th November 2006

China's investment in mining industry saw a 33.4 percent growth to 256.75billion yuan in the first nine months of this year, according to a senior official of the Ministry of Land and Resources.

Vice Minister Wang Min told an international mining conference, which kicked off here on Tuesday, that China's mining industry witnessed a rapid growth in investment, exploration and production from January to September this year.

The investment in oil, metal and non-metal smelting and pressing sectors totaled 409.87 billion yuan, up 14 percent from the same period of last year.

According to the vice minister, in the nine-month period, China's raw coal output hit 1.478 billion tons, up 11.7 percent, and crude oil output grew 1.7 percent year on year to 138 million tons.

Meanwhile, the production of coke rose 16.7 percent to 200 million tons, that of iron ore, up 37.7 percent to 4 million tons, and cement output came to 870 million tons, up 20.7 percent.

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