China Boosts Domestic Mining

Source: upasiaonline.com (5/29/08)

What may be little known however is, in its pursuit to meet the insatiable demand for resources, China is also intently hunting for resources within its borders. And that is giving rise to a booming mining industry, changing not only the country’s oft-criticized mining practices but also opening up a plethora of opportunities for foreign investment.

It is no secret that the tremendous demands of rapid industrialization have driven China to scout for minerals and resources in almost every corner of the globe. In that pursuit, the country has often tried hard to boost its bilateral relations with almost all resource-rich states in the world, sometimes even striking deals with rogue governments or failed states.

What may be little known however is, in its pursuit to meet the insatiable demand for resources, China is also intently hunting for resources within its borders. And that is giving rise to a booming mining industry, changing not only the country’s oft-criticized mining practices but also opening up a plethora of opportunities for foreign investment.

That’s the finding of the latest study on China’s mining industry by the London-based Business Monitor International (BMI), a business information publisher, which also says that consequent to the realization that the country has to depend as well on internal resources to ensure resource security, China’s national government is trying to make its mining industry more competitive.

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