China to set up agency to manage natural resources
Friday, 20 July 2007
BEIJING, Jul 19 (Dow Jones Newswire): China's Ministry of Land and Resources said Wednesday it will set up an agency to manage the country's natural resource reserves.
The agency will study how to set up a strategic reserve mechanism for natural resources and also run a fund to finance exploration and manage state-owned stakes in mines, the ministry said on a posting on its Web site.
The resources the agency will give priority to studying will include coal, coal-bed methane, uranium, iron, copper, aluminum and gold.
China, the world's second-largest energy consumer after the US, is seeking energy reserves to secure its sustainable development.
The agency will study how to set up a strategic reserve mechanism for natural resources and also run a fund to finance exploration and manage state-owned stakes in mines, the ministry said on a posting on its Web site.
The resources the agency will give priority to studying will include coal, coal-bed methane, uranium, iron, copper, aluminum and gold.
China, the world's second-largest energy consumer after the US, is seeking energy reserves to secure its sustainable development.