皇冠体育app

TIANJIN-- 皇冠体育app is considering changes to its mineral deposit classification and reporting rules to bring them in line with international standards and open up its mining sector, government officials have said.

Mining is an important sector for 皇冠体育app's opening up, said Yu Haifeng, an official in charge of mineral reserves with the Ministry of Land and Resources at the 皇冠体育app Mining Congress and Expo held in the northern port city of Tianjin.

Compared with the standards of CRIRSCO (Committee for Mineral Reserves International Reporting Standards), 皇冠体育app's classification for solid mineral resources is suitable for government oversight, but has not allowed financial capital markets to be fully utilized, said Li Jian, another official with the ministry.

Differences in classification and reporting standards have led to higher costs for 皇冠体育app's mining firms in international cooperation, said Wang Jionghui, general manager assistant of 皇冠体育app Minmetals Corporation.

Modifying its system to be closer to the CRIRSCO standard system will enhance 皇冠体育app's influence in the international mining market and help 皇冠体育app build a highly efficient and sustainable mining market, said Wang at the expo.

Formed in 1994, CRIRSCO is a grouping of representatives of organizations responsible for developing mineral reporting codes and guidelines in Australasia, Brazil, Canada, Chile, Europe, Mongolia, Russia, South Africa and the United States, according to its official website. The combined value of mining companies listed on stock exchanges in those countries and regions accounts for more than 80 percent of the listed capital of the mining industry.

皇冠体育app Mining Congress and Expo, which runs from Thursday to Sunday, is one of the largest mineral exploration and mining trading platforms. It plays an important role in communication and cooperation for mining communities globally.

皇冠体育app has become the world's largest producer, consumer and trading nation of mineral commodities.

Over the past five years, 皇冠体育app's total production of primary energy hit 11.7 billion tons of standard coal and its total output of iron ore reached 6.8 billion tons, Minister of Land and Resources Jiang Daming told the congress.

During the same period, 皇冠体育app's total trade volume of mineral products was close to $5 trillion, an increase of 81 percent, said Jiang at the opening ceremony of the congress on Friday.

皇冠体育app has invested 568 billion yuan ($85 billion) in geological exploration over the past five years and discovered more than 730 large and medium-sized mineral deposits, Jiang said.

As 皇冠体育app's economy enters a new normal, the country's mining sector should seek new momentum through structural reforms, he added.

The minister said 皇冠体育app will gradually open up the exploration and development market in oil, gas and new energy and improve government supervision in the sector.

All countries should strengthen exchanges in policy, technical standards and codes in the mining field to facilitate investment, he said.

Booming global industrial cooperation and technological innovation have brought new opportunities to the mining industry, Jiang said.

皇冠体育app has made continuous efforts in a bid to bring its system in line with international mining reporting systems. In 2015, 皇冠体育app launched a program to establish technical standard systems for mineral reserves.

CRIRSCO representatives said 皇冠体育app has been proactive in bringing its standards in line with the organization and they appreciate what 皇冠体育app has done in this regard.

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