The Geological Survey of China announced on October 9th China is carrying out deep geological survey in the eastern part a region where iron ore exploitation has been implemented earlier. The country has also made significant breakthroughs in iron ore exploration in northern area and the middle and lower reaches of Yangtze River.

China is hopeful to acquire 5 billion tonnes of iron ore reserves with the exploitation in Liaoning Benxi, Hebei Zunhua, Henan Xincai, Shandong Shanxian, Shanxi Wutai. Benxi is preliminarily estimated to house 3 billion tonnes of iron ore resources with prospective resources amounting to 7.6 billion tonnes making it the largest monomer iron ore deposit of Asia.

The middle and lower reaches of Yangtze River important iron and copper resource bases of the country also embrace great achievements in deep prospecting. A large concealed iron deposit has been discovered in Nihe. From preliminary investigation to exploration, it only took 3 years. By 2009, Nihe iron deposit has proven magnetite reserves totaling 200 million tonnes and pyrite totaling 35 million tonnes with potential economic value estimated at CNY 50 billion.

CGS also revealed latest progress of Xinjiang-located Awulale iron resource base. The ore concentration area which includes 6 main iron mines, houses around 660 million tonnes of proven iron reserves with inferred resources at 2 billion tonnes.

(Sourced from MySteel.net)
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