China discovered almost 5 billion tons of iron ore reserves last year, of which 1 billion tons are proven reserves, according to statistics from the Ministry of Land and Resources.
1.04 billion tons of iron ore were found in Macheng Mine, Hebei Province, which will be a key exploration project for Hebei Iron and Steel Group this year.
In Benxi, Liaoning Province, 3 billion tons of iron ore deposits were discovered, and the potential iron ore reserves are estimated at 7 billion tons.
The iron ore deposits found in Yanzhou, Shandong Province and Panzhihua and Xichang, Sichuan Province amounted to 520 million and 168 million tons.
The newly found iron ore resources is expected to help ease the short supply of iron ore in China. According to statistics released by China's General Administration of Customs, the country imported 627 million tons of iron ores in 2009.
Source: China Knowledge
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