In race with US for critical resources, China discovers major copper and gold deposit
Ministry of Natural Resources says Chating deposit could contain more than 1 million tonnes of copper and 200 tonnes of gold
China has discovered a major copper and gold deposit in the latest breakthrough in its hunt for metals vital to solar power, new-energy industries and data centre construction.
The deposit was found in the central province of Anhui, China Central Television reported on Tuesday, with the main mineralised body about 1.2km long and 1.1km wide and deeper sections yet to be fully delineated.
The Ministry of Natural Resources said preliminary estimates suggested the deposit contained the equivalent of several large copper deposits – each containing more than 500,000 tonnes.
The Chating deposit could also contain the equivalent of more than 10 large gold deposits, each holding at least 20 tonnes, the state broadcaster reported on Tuesday.
“The major breakthrough was achieved in just a few months and is highly significant,” it quoted the ministry as saying. “China has strong demand for copper and remains heavily reliant on external supplies, but Anhui’s Chating deposit shows that the country still has considerable domestic exploration potential.”
Gold, meanwhile, is used in high-end electronics and aerospace equipment, while its role as a reserve and safe-haven asset has drawn greater attention from central banks amid heightened economic and geopolitical uncertainty.
China launched a nationwide mineral exploration drive in 2021 to expand domestic reserves of critical minerals and reduce supply-chain risks.
The Chating deposit could eventually support a major copper and gold production base in central China, and estimates of its resources could rise as exploration continues. Associated deposits of silver and sulphur could also be recovered, the report said.
Chating was among the priority exploration projects for this year selected by the ministry as part of a broader push targeting copper, gold, rare earths, antimony and other strategic minerals.
The International Energy Agency warned in July that global copper supply could fall 25 per cent short of demand by 2035 – even if currently planned projects proceeded.
It said the looming gap had prompted governments to step up public financing for new mines and processing facilities, facilitate long-term offtake arrangements and consider strategic stockpiles, adding that greater recycling could also help ease supply strains.
China, which relies on imports for more than 80 per cent of its copper concentrate, is also stepping up domestic exploration.
In May, China announced that deeper exploration at Tibet’s Yulong copper mine had added 1.31 million tonnes of copper resources, bringing the total amount identified at the site to 7.53 million tonnes.