China's mineral geological exploration investment achieves' three consecutive increases'

Recently, the Ministry of Natural Resources released the "China Mineral Resources Report (2024)" (hereinafter referred to as the "Report"). The report shows that China's investment in geological exploration of oil and gas and non oil and gas minerals has achieved positive growth for three consecutive years, with 124 new mineral deposits discovered in 2023.

According to the report, as of the end of 2023, China has discovered 173 types of minerals, including 13 types of energy minerals, 59 types of metal minerals, 95 types of non-metallic minerals, and 6 types of water and gas minerals. In 2023, major breakthroughs will be made in China's oil and gas exploration in new strata, new types and new zones of large oil and gas bearing basins such as Tarim, Junggar and Bohai Bay, and major progress will be made in the exploration of non oil and gas minerals such as middling coal, copper, gold, lithium and phosphorus.