A 203-million-tonne reserve of manganese ore, the largest in Asia valued at USD 14.5 billion, has been discovered in southwest China's Guizhou Province.
Pujue manganese ore lies in the mountains of Songtao Miao Autonomous County and was discovered by Guizhou provincial geology and mineral exploration bureau, the local government said in a statement.
It said the ore had a potential value of more than 100 billion yuan (USD 14.5 billion), state-run Xinhua news agency reported today.
China is the world's largest producer and consumer of manganese, widely in making batteries and magnetic materials.
Scientists have discovered four large manganese ore deposits in Guizhou Province with combined reserves of 600 million tonnes in recent times, said Chen Yuchuan, a geologist and academician with the Chinese Academy of Engineering.
"The newly discovered ore deposits make up 60 per cent of China's total proven reserves and will greatly reduce the country's reliance on imports," he said.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)