China will accelerate the construction of strategic mineral reserve sites, state news agency Xinhua reported on Wednesday, as per Bond.az.
New regulations issued on Wednesday detail how a law passed in 2024 should be implemented. The rules call for the accelerated construction of strategic mineral resource reserve facilities.
The regulations set a minimum five-year term for strategic mineral resource reserves kept at their source. State Council authorities will conduct post-term reviews to determine extensions or adjustments.
The rules stipulate that strategic mineral resources reserved by the state may not be mined or encroached upon without approval from the State Council's natural resources authority.
China is the world's largest consumer of most commodities and maintains secrecy around its stockpiling system. In February, the head of the country's nonferrous association said China would expand its strategic reserves of copper.
