Chinadaily.com.cn reports that China has discovered its largest molybdenum deposit to-date in the East-Chinese province of Anhui. At 2.2 million tons, the discovered deposits have a mining life of more than one hundred years and constitute the second largest known quantity of minable molybdenum with the world’s largest mine being the Climax Mine in Colorado.
A boon to the rural county in which the deposit was discovered, the find also bears testimony to the fact that resource-rich China’s dominant position in the strategic metals sector and the geopolitical and economic challenges that come with it won’t simply expire anytime soon. It is time for other nations (including our own) to reassess their mineral policies and make the exploration and development of their domestic natural resources a priority.
