China To Encourage Foreign Mining Investment
A white paper issued by the mainland Chinese government has established a policy
to encourage foreign exploration of mineral resources in the country's largely
unexplored western region. The government says it will offer incentives to draw
more technology, management know-how and talent into the mining industry. "The
vast western region, deeper mining layers of the east and offshore territories
are only lightly explored," the paper says. "These are areas for future
development." The central government opened up mineral exploration in 2000, and is thought
to be disappointed by the low level of foreign interest so far. "The Chinese
government has kept to its promises arising from its entrance into the World
Trade Organisation," Xinhua quoted the white paper as saying. "It
has eradicated regulations that do not agree with rules set by the organisation
and granted foreigners the same mining rights as Chinese citizens." China's booming manufacturing sector is hungry for metals and minerals of many
types, and China is far from self-sufficient in most primary inputs; in aluminium,
for instance, domestic production fell from 69.7% of of demand in 2000 to 51.9%
this year. .
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