Tibet holds half of China’s copper ore reserves
27 Aug 2009
China's Tibet Autonomous Region holds more than 30 million tons of copper ore reserves, which is more than half of China's total reserves of the metal, according to the region's geological prospecting bureau.
Tibet holds the largest copper reserves in China said the bureau director. There were 329 copper ore deposit finds in Tibet including 11 large deposits and 6 mid-size ones by 2008.
Tibet copper ore reserves was increased by nearly 10 million tons during the 2001-05 period.
The Qulong copper ore mine in Tibet is the largest one in Asia with proven reserves of more than 6.5 million tonnes of copper and estimated reserves of 10 million tonnes.
Western Mining, China's seventh-largest copper miner holds a 58-per cent stake in the mine. Qulong will be able to produce electrolytic (refined, almost pure) copper rather than copper concentrate, significantly adds to the value of the mine.
A portion of the electrolytic copper will also be directly processed into copper products, further boosting the mine's profitability. The Tibet Autonomous Region Specialist Plan 1996-2020, forecasts that the Yulong mine to have a life of 28 years.