China discovered massive copper deposit of 20 million tons

China has announced a significant discovery of a copper deposit of over 20 million metric tons in the Qinghai-Xizang plateau, greatly enhancing China's copper resource security capabilities, China Geological Survey under the Ministry of Natural Resources released on Monday.

The copper deposit in the Qinghai-Xizang plateau now account for more than two-thirds of China's total, with four other ten-million-ton copper deposits found, significantly altering the landscape of copper exploration in China. The total resource potential of the four deposits is estimated to reach 150 million tons, making it a world-class copper resource base, according to the Geological Survey.

Additionally, the Duobaoshan copper mine in Heilongjiang province has added 3.65 million tons of copper resources during this round of prospecting since 2021, according to the Geological Survey.

In total, China has added more than 30 million tons of copper resources since the start of the 14th Five-Year Plan (2021-2025), according to Tang Juxing, an academician of the Chinese Academy of Engineering.

"Copper is in high demand in the development and utilization of green energy sources such as wind, hydro, solar energy," said Tang.

It also has vast application prospects in emerging fields such as electric vehicles and photovoltaics. For instance, the amount of copper used in a single electric vehicle is four times that in a gasoline vehicle, making the new energy sector a new growth point for copper consumption in China, according to the Geological Survey.

China's copper consumption has surged in recent years, transforming it from a copper net exporter to the world's largest copper consumer and net importer, with annual copper consumption accounting for more than half of the global total for the past ten years, data from World Bureau of Metal Statistics and other institutions showed.

Data also showed that global copper concentrate production has seen a slight decline and the supply and demand of refined copper have tightened as copper prices keep fluctuating and rising.

"The recent discoveries in copper prospecting will help alleviate the tight supply of copper in China, greatly securing the domestic copper industrial chain," Tang said.

In regards to copper mining in the Qinghai-Xizang Plateau, Dorje, an academician of the Chinese Academy of Engineering, emphasized that environmental protection in Xizang is of paramount importance.

"Mining activities must aim for near-zero emissions or pollution, and minimize ecological disturbances. After mining, the scientific restoration, reclamation, and re-greening of the relevant areas must be undertaken," Dorje said.

In the context of limited growth potential in the agricultural and pastoral industries, the locals may choose to seek employment in mining, a choice that not only allows them to enhance their labor skills, but significantly improves their living standards and contributes to the region's economic and social development, Dorje added.