China's Mineral Discoveries Reshape Global Market Role
China has made significant mineral discoveries in recent months, boosting its strategic resources and potentially transforming its role in the global market. The Chinese Geological Survey has unearthed a massive lithium deposit in the Central Province of Hunan, while substantial copper reserves have been found in Tibet.
The Hunan discovery is a game-changer for China's new energy industry. The deposit, totalling 490 million tons, contains 1.31 million tons of lithium oxide. This is easier to manage and control than brine deposits, and it comes with additional mineral resources like rubidium, tungsten, and tin. The deposit is expected to provide strategic resource security for the new energy industry in Chenzhou.
China's mineral wealth doesn't stop at lithium. In Tibet, a staggering 20 million tons of copper have been discovered, with potential reserves exceeding 150 million tons. This could make the Qinghai-Tibet Plateau a major global copper supplier. Previously, China reported a lithium deposit in Yajiang, Sichuan, with almost a million tons of lithium. These discoveries are valued at billions of dollars, with the Hunan gold deposit alone preliminary estimated at $83 billion.
China's mineral discoveries are set to reshape its role in the global market. The lithium deposits in Hunan and Sichuan will bolster its new energy industry, while the copper reserves in Tibet could make it a major global supplier. These findings underscore China's commitment to exploring and utilising its vast mineral resources.
