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China discovers world’s second largest molybdenum deposit

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.

  • Siegfried

    i am appalled to watch daily the propaganda machine at work by all those pseudo-environmentalists who oppose to any  kind of mining in  the U.S.A.The one that bear the biggest blunt of their lies is the Pebble project in south-western alaska which may produce at least 70 billion pounds of copper and 5 billion plus pounds of molybdemum as well as over 100 million ounces of gold some day.the company-northern dynasty minerals and partner Anglo America had already spent over one hundred million dollars on the project as well as on environmental impact study getting ready for applying permit next year.Also,over 2000 jobs will be created for the first 2 years and at least 1000 high paying jobs  for a minimum of  50 years afterwards.Now these people tried to pr-empt the due process and  stop the mine even before it has a chance to finish their environmental study and application of permit.Furthermore,Pebble is located at state land that,s been specially designated for  mining  development by the state of alaska.How absurd is that.Their voice must be heard .