During the review period, the country’s mining sector valued $328bn grew at a CAGR of 26% as a result of rapid industrial and economic growth.
Coal production improved significantly at a 75.8% of the country’s entire mining industry in 2010, while iron ore dominates the metallic mineral category at a 21.9% of the category in 2010, the report said.
The non-metallic mineral category is dominated by salt, gypsum and rock phosphate, which jointly hold an 80% market share.
The report found that gold was the primary contributor to the Chinese mining industry and several mergers and acquisitions deals were signed in connection with gold mining in 2010.
The Chinese government reduced the export quota of key commodities due to an increase in the domestic demand for mineral resources.
Over the forecast period, the Chinese mining sector is estimated to reach $417bn in 2015, with an expected CAGR of 4%, according to the report.
The expansion of key end-user markets such as construction, manufacturing, steel and power generation will continue to generate demand for mineral products until 2015, the BRICdata report forecasts.
The full report, ‘The Chinese Mining Industry – Market Opportunities and Entry Strategies, Analyses and Forecasts to 2015’ is available from BRICdata. Click here for more details.
