Geologists have discovered an iron ore deposit estimated to be
at least 1 billion tons in northeast China's Liaoning Province
after more than two years of exploration, local authorities said on
Thursday.
The newly-found deposit, between 1,280 meters and 1,500 meters
underground, is at the Pingshan District, Benxi City, said Wang
Wenqing, deputy head of the Liaoning Provincial Survey Academy of
Geology and Mineral Resources.
"We plan to spend two to three years finding out the actual
reserves," Wang said.
"But we will have to wait even longer before we can start
excavating."
Initial exploration shows that the iron ore is mainly hematite
or magnetite, and the average iron content is 34.68 percent, said
Yu Wenli, head of the Liaoning Provincial Bureau of Geology and
Mineral Resources Exploration.
"The deposit can be exploited for more than 30 years," he
said.
(Xinhua News Agency January 25, 2008)
