Monday, April 23, 2012
China's mineral shortage
There's an intriguing story being reported out of China, that the Chinese Minister of Land and Resources Xu Shaoshi, said in an exclusive interview that 'China is running short of 25 kinds of mineral resources, including 11 that are crucial to the country's economy.' The frustrating part is that there are only vague references to what these minerals are.
China Daily USA reports that "more than half of the country's petroleum, iron ore, refined aluminum, refined copper and leopoldite were imported," according to the minister, and adding that "China will have to sharply increase imports of minerals in short supply to meet demand over the next 10 to 20 years."
I'd like to know which minerals the Minister includes in his list of 45 and which are the most critical. China's demands for energy and minerals have huge impacts on global resources and prices.
We have seen an increase in Chinese investors in the past year or so, looking for mineral resources in Arizona, to both develop or just purchase the mined resource.
Arizona is the #1 or #2 mining state in the US [right, Morenci copper mine. Photo credit Larry Fellows], trading places with Nevada as the price of gold fluctuates. As such, the state attracts interest from mining companies from all over the world. [as do our solar energy resources]
at 5:31 PM