China to speed up construction of strategic mineral reserve sites, says government

China will ​accelerate the construction of ​strategic mineral ‌reserve sites, ​state news agency Xinhua reported on Wednesday. KEY DETAILS: * New regulations ‌issued on Wednesday, which detail how a law passed in 2024 should be implemented, called for ‌the accelerated construction of strategic mineral resource reserve facilities.

China will ​accelerate the construction of ​strategic mineral ‌reserve sites, ​state news agency Xinhua reported on Wednesday. KEY DETAILS:

* New regulations ‌issued on Wednesday, which detail how a law passed in 2024 should be implemented, called for ‌the accelerated construction of strategic mineral resource reserve facilities. * ‌The rules set a minimum five-year term for strategic mineral resource reserves kept at their source, with post-term reviews ⁠by ​State Council ⁠authorities to determine extensions or adjustments.

* They also 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 is secretive about its stockpiling system. In a ⁠rare public statement, the head of the country's nonferrous ⁠association ⁠said in February China would expand its strategic reserves of copper.