China’s industry ministry plans to step up lithium, cobalt, nickel exploration

Beijing – China’s industry ministry is proposing to step up domestic exploration of mineral resources under a plan to support the energy storage manufacturing industry.

China will step up efforts to support domestic exploration of lithium, cobalt, and nickel resources and bolster national resource security, under a draft plan released on Wednesday by the Ministry of Industry and Information Technology.

The plan is targeting an increase in the scale of the new energy storage manufacturing industry to match demand by 2027, calling for the creation of three to five 100 billion yuan ($13.96 billion) new energy storage manufacturing firms by then.

($1 = 7.1616 Chinese yuan renminbi)

(Reporting by Colleen Howe and Amy Lv; Editing by Jan Harvey)

Reuters

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China’s industry ministry plans to step up lithium, cobalt, nickel exploration

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