China relies more heavily on mineral imports
Source:Global Times Published
China's development requirements mean an increasing reliance on imported oil, iron, gold and other minerals, the Ministry of Natural Resources said on Tuesday.
China has overtaken the US as the world's biggest crude oil buyer, and China relies heavily on imports of cobalt, nickel and lithium to develop strategic emerging industries, Ju Jianhua, a ministry official said at a press conference on Tuesday.
China is increasingly dependent on imports for 95 percent of chrome, 90 percent of cobalt, 79 percent of gold, 73 percent of copper, 73 percent of iron ore and 67 percent of oil, the ministry's website quoted Ju as saying.