China is accelerating its efforts to secure resources, including the discovery of a large oil field estimated to contain more than 100 million tons of oil in Gansu Province. There are predictions that the global resource war will become more intense as China has taken out the card of export controls on key minerals in response to the United States’ technology control.
Xinhua, a state-run media outlet, said, “Changqing Oil Field under China Petroleum and Natural Gas confirmed that more than 100 million tons of oil were deposited in 23 oil wells (facility drilled to extract oil) in the Hongde area of Qingyang City, Gansu Province.” “The confirmed oil reserves are 50.24 million tons, and the estimated oil reserves are 56.2 million tons,” it was reported on the 2nd. This is an achievement achieved more than two years after oil exploration began in this area in June 2021.
Changqing Oilfield introduced, “With oil field development in the Hongde area in full swing, crude oil production per day has reached 504 tons,” and “it has an annual crude oil production capacity of 500,000 tons.”
The Hungde region is located in the Erduos Basin, which has been evaluated as a treasure trove of oil and gas resources, but has faced difficulties in exploration and development due to complex geological conditions. Xinhua News Agency said, “Changqing Oil Field has already built an oil and gas field with an annual production of 65 million tons in other oil fields in the Erdoos Basin, and by discovering oil fields in the Hongde region, the exploration and development of oil resources has entered a new stage.” evaluated. Although it is the discovery of a large oil field, China is expected to speed up the discovery of new oil fields as China’s daily oil consumption reaches 15 million barrels.
On October 28, China’s Nuclear Industry and Geological Administration announced, “After several years of exploration, we have discovered a uranium mine with reserves of up to 100,000 tons.” Uranium is one of the key minerals needed for nuclear power generation. The Geological Bureau explained, “The uranium mine reserves discovered this time are one-third of China’s total reserves,” and added, “As we have a stable natural uranium supply chain, we can expect the development of the nuclear industry.” However, the specific location of the mine was not disclosed. China Nuclear Industry Group, China’s largest nuclear power company, announced in early October that it had discovered a new mineral named ‘niobobaotite’ at a mine in Baotou City, Inner Mongolia Autonomous Region.
It was confirmed that niobobiumite contains a large amount of niobium, which is attracting attention as a new secondary battery material.
Last June, a research team led by Professor Zuo Renguang of the China University of Geosciences discovered a belt of rare earth minerals spanning more than 1,000 km in the southern region of the Tibet Autonomous Region.
The research team explained that the rare earth reserves identified this time are large enough to reset China’s position in the global rare earth market.
Rare earth elements, which are widely used in high-tech industries such as smartphones, semiconductors, missiles, and batteries, are representative minerals used as ‘resource weapons’ and it is estimated that China accounts for about 40% of global production.
Along with resource development, China is also accelerating the weaponization of resources. According to Xinhua News Agency, China’s State Council held a standing meeting chaired by Premier Li Qiang on the 1st to discuss amendments to the Mineral Resources Law and decided to submit them to the Standing Committee of the National People’s Congress (National People’s Congress). The meeting stated the background for the revision of the law, saying, “Mineral resources are an important material basis for economic and social development,” and “It is very necessary to develop and protect mineral resources and ensure the safety of national strategic resources.” At the same time, he called for strengthening the foundation of mineral resources by accelerating exploration, development, storage, and production, deepening international cooperation, and strengthening the reserve system.
The State Council’s revision of the Mineral Resources Act is consistent with China’s recent moves to weaponize resources. From the 1st, China began implementing export control measures on graphite, one of the key raw materials for secondary batteries. It has been about 40 days since the implementation of this measure was announced on October 20th of this year.
Previously, China implemented an export permit system for semiconductor materials such as gallium and germanium last August, and in November introduced a system requiring rare earth exporters to report the type and destination of exports.
In this situation, China’s Ministry of State Security, which is responsible for China’s national security, announced on its official WeChat account on the 30th of last month, “Major mineral resources are an important foundation contributing to the development of new industries,” and “Protecting major minerals is one of our important missions.”
[베이징 손일선 특파원]
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2023-12-04 12:38:17
