15 August 2005
China to tap rich copper ore resources in eastern Tibet
According to Xinhua, construction of a copper mine in Chamdo (Chin. Qamdo), eastern TAR, will soon begin. The copper deposit, located at Yulong Township, Jomda County, was discovered in the 1960s. Containing over 6.5 million tons of proved copper ore, it is the PRC's largest copper reserve, and the second largest in Asia . A corporate entity, Yulong Copper Industry Co. Ltd. of Tibet, was established in May with a registered capital of 625 million yuan (£42,966,200; €63,454,156.00; US$77,115,752). The Yulong Copper Mine will have an annual production capacity of between 30,000 to 50,000 tons.