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Xinjiang Sells Mining Rights by Public Bidding

Release time: 2006-12-2 12:06:32 Visit frequency: 121

Mining rights for seven mines in western China’s Xinjiang Uygur Autonomous Region were sold at auction last Friday, for 182.5 million yuan. It was the bigges ever such sale in Xinjiang, according to a report published on last Friday’s Xinhue Net.The rights for another 20 coal, copper, ferrous and other metal mines in the region were also sold, with around 100 domestic mining enterprises bidding at the auction, the report said.

　　Last December, the regional government opened mining rights to the public, allowing prospectors to sell their output. Mining enterprises from home and abroad are allowed to prospect and exploit resources, except for oil and gas, which are reserved by the state.

　　Opening mining rights invited investment in the exploitation of Xinjiang’s rich mines. To date, 210 deals worth almost 75 illion yuan have been concluded, according to the regional land and resources department.

　　Xinjiang has 138 varieties of mineral resources, 80 percent of the country’s total. It has nine of the nation’s biggest reserve including natural gas, mica and Chile saltpeter, with high yields of oil, nickel, coal and mirabilite. There are about 3,000 mining enterprises in the region.

Information sources: Releaser: China Electric Engineering Online

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