China's efforts to slash mineral exports pay off in 2007

China's efforts to curb heavy outflow of non-renewable mineral resources from the country have paid off.

According to the General Administration of Customs, last year China exported 120 million tons of 142 sorts of mineral resources in five categories, including non-metallic ores, metallic ores, mineral fuels, silicon and rare earth, representing a decline of 16.6 percent from the previous year.

The exports were valued at 12.6 billion U.S. dollars, up 2.8 percent. Prices of the mineral exports rose 23.2 percent on average.

Of the total foreign sales, mineral fuels accounted for 72.28 million tons, down 14 percent, and non-metallic ores made up 51.15 million tons, down 20.4 percent.

Since the second half of 2006, China has intensified control over export of mineral resources. It discontinued export rebates for almost all kinds of mineral resources and began to levy export duties of five percent to 15 percent on metallic ores that were in dearth at home and on coal, coke and some other mineral products.

However, 60 kinds of mineral products saw export reverse the downward trend. Their combined export volume amounted to 48.8 million tons, up 43.4 percent, the customs sources said. – China Mining