MOF to set funds for overseas mineral exploration

摘要

An official from the National Development and Reform Commission (NDRC) confirmed that the Ministry of Finance (MOF) would set special funds for domestic enterprises to explore overseas resources. And an official with MOF said that MOF is now studying on related policies concerning the funds that might be carried out next year. Foreign investors' Safari to China has sprung up since 2003. According to the statistics of the Ministry of Land and Resources (MLR), foreign companies got 118 mineral exploration licenses in January to August this year, and foreign invested -companies got another 17 licenses, both with a sharp increase aginst last year. However, there have been few Chinese companies directly involved in overseas mineral exploration, except Sino Steel Corporation's cooperation with MidWest in -an iron project (Sino Steel participates in the whole process of feasibility study, mineral exploration and exploitation).