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Now, China finds $100bn mineral deposits in Tibet
PTI[Monday, December 06, 2010 17:21]

BEIJING: China continues to strike it rich in Tibet as geologists discovered 102 types of mineral deposits in over 3000 mine beds with an estimated value of about USD 100 billion.

So far, over 3,000 mine beds, deposits or mineralised sites with as many as 102 types of mineral were discovered in Tibet Autonomous Region (TAR), Chinese official media reported, quoting officials from the regional bureau of land and resources.

The mineral resources in the Himalayan region have an estimated potential value up to 600 billion yuan (USD 100 billion), it said.

Among the variety of mineral reserves, Tibet is reported to have large chromium and cuprum (copper) far higher than other regions of mainland China.

Twelve other mineral reserves rank among the top five across the whole country.

Chromium, a steely-grey, lustrous hard metal is regarded with great interest because of its high corrosion value, resistance and hardness while Cuprum is a mineral used in homoeopathic medicines.

Considering the rich potential, top Chinese minerals and metals companies have already established their presence to explore and extract the rich deposits of the remote region's natural resources.

Chinese aluminium and copper giant Aluminum Corp of China, or Chinalco has already set up its unit there, besides Chinese miners Western Mining Co and Zijin Mining Group Co Ltd which already started production at the Yulong copper deposit, in southeastern Tibet to fuel the rapidly developing Chinese economy.

Access to the remote Tibetan areas is no longer a problem as China has already built enormous amount of rail, road and air infrastructure connecting TAR with the mainland.

The rapid exploration of natural resources and development of infrastructure evoked criticism from the Tibetan say this would benefit the main land more as it fuels influx from the outside the region besides harming the plateau's fragile environment.
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