Large high-grade iron ore deposit found in east China
A high-grade iron ore deposit has been discovered in east China's Shandong Province, with estimated reserves at 104 million tonnes, Xinhua reports
Hu Zhiyong, from the Department of Natural Resources of Shandong Province, said the newly confirmed high-grade iron ore deposit is one of few in China, and is notable for its large distribution, considerable ore body thickness, high ore quality, and promising exploration potential. He emphasised the global imbalance in iron ore supply and demand, noting that major reserves are concentrated in countries such as the United States, Australia, Brazil, Russia and China. Despite having iron ore reserves, China faces a shortage of high-grade iron ore.
As of 2022, a total of 173 kinds of minerals had been found in China, according to a report released by the Ministry of Natural Resources.
