GUIYANG, August 15 – A copper mine in Qamdo, eastern Tibet Autonomous Region, will begin construction within the year and will be finished in three years, said Hao Peng, vice chairman of Tibet Autonomous Regional Government, here on Monday.
He was addressing the on-going 20th Economic Forum among Six Provinces and Regions in southwest China held in Guiyang, capital of Guizhou.
Copper is a mineral in which China is deficient, and has been meeting its demand by depending on imports.
The copper deposit, located at Yulong Township, Jomda County ofQamdo Prefecture, was first found in 1960s. It has at least 6.5 million tons of proved copper ore reserves, the country’s largest, and the second largest in Asia.
A special corporate entity, Yulong Copper Industry Co. Ltd. of Tibet, with a registered capital of 625 million yuan (about 77 million US dollars) was set up this May, marking the start of China’s effort to explore rich copper ore resources in eastern Tibet.
Yulong Copper Mine will be constructed in three stages and willbe capable of producing between 150,000 and 200,000 tons of electrolytic copper annually when it is completed.
For first-phase construction has a budget of 1.5 billion yuan (about 185 million US dollars) and the mine will retain an annual production capacity of anywhere from 30,000 to 50,000 tons.
NOTE: Xinhua is a official news agency of the PRC.
