China Prepares Mineral Reserves Pilot Plan
Source: Reuters (5/17/10)
". . .the first products under the pilot program will be coal and rare earths."
Cheng Liwei an official in China Ministry of Land and Resources told a recent meeting that the ministry had drafted plans for trial sites and the related policies and will launch the trial sites for mineral production area reserves as quickly as possible.
The Chinese-language report said the first products under the pilot program will be coal and rare earths. The report shed few details of how the reserves policies for minerals will work, or when the full policies will be rolled out, but stressed the urgency driving the effort.
The report came a year after China National Development and Reform Commission, the country top economic planning body said China would set up 80 tons to 120 million tons of coal reserves in Shandong province over the following three to five years.
Cheng said "Strategic reserves for mineral resources are an important measure for ensuring our country's resource security. He said that mineral production area reserves are a way of protecting the long-term efficacy of resource reserves that is relatively cheap to operate, but this still has not entered the phase of substantive implementation, and urgently requires expansion."
The report said a government plan from 2008 proposed establishing 40 to 50 mineral reserve sites by 2020, including 10 to 20 areas for special varieties of coal or regions short in coal, as well as 10 to 30 for rare earths, tungsten and antimony.