Sunday, March 12, 2006

Mining: China promises to protect rights of foreign miners

A senior Chinese government official has said that China will protect the rights of foreign prospectors, as it seeks more exploration investment to increase domestic reserves of metals and other resources.

Because the country has relatively poor deposits of more common ores used for industrial metals, Beijing is trying to entice international miners to explore for new mines, especially in the underdeveloped west.

However, some prospectors are concerned that the right to exploit a deposit once found is insufficiently guaranteed.