Xinhua news agency, Beijing, March 19 (reporter Wang Libin) since 2003, domestic iron ore mining and dressing industry totaled 1920 billion yuan of investment in fixed assets, annual output of iron ore from 260 million tons in 2003 increased to 8.8 million tons in 2009, with an average annual growth of more than 20%, Chinas supply of iron ore resources can significantly improve.

Reporters from the 19th meeting of the national iron ore prospecting and mining major report on the outcome of the meeting was informed that, in recent years, Chinas iron ore resource supply capacity has improved significantly, iron ore exploration in the saddle, Jidong, Yanzhou, climbing West, Luzong iron ore concentration area achieved a major breakthrough, a total of proved reserves of nearly 100 million tons. At the same time, iron ore production increased from 2.6 tons in 2003 8.8 tons by 2009. In terms of the supply of iron ore production, since 2003, domestic iron ore mining and dressing industry totaled 1920 billion yuan of investment in fixed assets, annual output of iron ore from 260 million tons in 2003 increased to 8.8 million tons in 2009, with an average annual growth of more than 20%. Construction and planning of the construction of the iron ore design capacity of 4.8 tons / year, domestic iron ore self-sufficiency rate steadily.

In recent years, China has continued to increase investment, to guide and stimulate investment in social capital investment in iron ore exploration and development, iron ore prospecting have made significant breakthroughs. Liaoning saddle this, Jidong, Yanzhou, Shandong, Sichuan Panzhihua West, Anhui Luzong iron ore concentration area total proven reserves of iron ore resources in nearly 100 million tons in the. The Liaoning Benxi large iron Taiwan control reserves of 30 tons, 70 tons of forecastingthe. Hebei Jidong proven Maastricht large iron ore 10 million tons, Chang Ning iron ore, Yan Zhuang iron mine nearly 5 million tons, near our home camp BGRIMM Duan Shangyou untapped reserves of 10 billion tons of resources. The Nihe iron ore deposit, Anhui, Sichuan Panzhihua LAN Jia volcanic iron mine, Shandong Yandian iron ore by whole mount exploration, to explore resources reserves of nearly 9 million tons. Through the implementation of crisis mine resource projects, total new iron ore reserves of 8.7 tons, has been developed by direct mining enterprises.

In addition, in the western region of China has opened up a new batch of iron ore prospecting area. Iron ore for Awulale metallogenic belt, control of iron ore reserves of 2.3 tons, has started construction of new mines. Tibet Nyixung iron ore concentration area preliminary control rich iron ore resources in the amount of 1.38 tons. Qinghai and Xinjiang border of Qimantage area prospective resources amount of more than 10 million tons, the West Kunlun Taxkorgan old and iron ore prospecting of resources quantity more than 5 million tons. The area of iron ore exploration degree is low, shallow, high grade, large scale, easy development and utilization.

It is reported that in 2010, the central government added 5 billion yuan for the strengthening of basic mineral exploration work, also invested 3 billion yuan for the intensive and comprehensive utilization of mineral resources. The central and provincial geological prospecting fund have started to implement, the total reached 15 billion yuan. Recently, the SASAC issued the relevant policies, enterprise exploration costs 50% in the assessment according to the profit and return, these measures have been put forward, will greatly stimulate the enterprises to invest in mineral resources exploration.