‘Major exploration breakthroughs’ have enhanced China’s energy security and tech developments as self-sufficiency efforts pay off
China has invested nearly 450 billion yuan (US$63.2 billion) over the past five years in a strategic mineral-exploration initiative, achieving significant breakthroughs in oil, gas, copper, lithium and uranium.
Since 2021, Chinese geologists have mapped the reserves, distribution and utilisation of 163 mineral types, discovering more than 500 large and medium-sized oil, gas and mineral deposits, officials said at a press conference on Wednesday as the country’s 14th five-year planning period (2021-2025) nears its end.
The results came amid China’s intensified efforts to dominate critical mineral supply chains and reduce its reliance on imports, driven by supply-chain-security considerations and booming demand from new tech development amid geopolitical tensions.
“Mineral resources are a cornerstone of economic and social development … We’ve made major exploration breakthroughs, enhancing energy security and optimising resource structures,” said Xu Dachun, director of the China Geological Survey.
