China added major gains to its critical mineral reserves and discovered more mineral deposits last year as it ramped up efforts to boost self-reliance and energy security, according to the Ministry of Natural Resources.
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Increased investment had led to “significant breakthroughs” in oil and gas exploration, while “substantial progress” was made in mineral resources, resulting in 124 new mineral deposits discovered last year, the ministry said in a report on Tuesday.
In the past year, China saw considerable growth in reserves of strategic minerals such as fluorite and crystalline graphite, the report indicated.
The full annual 2023 assessment of China’s mineral resources has not been made public, but a few details have been released by the ministry and media.
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Critical minerals are commodities found in a wide variety of ore deposits that are considered vital to economic or national security and are vulnerable to supply disruption.
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