Brief History of China's Mining Industry

Submitted by: Submitted by

Views: 31

Words: 1099

Pages: 5

Category: Business and Industry

Date Submitted: 01/14/2015 11:57 PM

Report This Essay

One of China’s major industries is mining. It has surpassed other countries in both production and efficiency – meaning mining is cheaper for China. With this in mind, we will look at a brief history of China with mining to where it is at today; current Chinese mining practices; China’s interested in Afghanistan; the relationship being fostered between China and Afghanistan; the impact Chinese Mining practices may have on Afghanistan.

Many Chinese immigrated to American looking forward to an opportunity in mining. [1] Chinese immigrants experienced restrictions and special taxes; however, they continued to provide inexpensive labor to America. Some ventured beyond California to take new jobs or expand their role in society in new locations. In modern terms, China surpasses America in mining production. Mining is one of China’s primary industries. The country is rich in resources, however, dominating the market of resource output will ensure China’s role as an economic powerhouse. According to AsianNews.it, “China produces 97 per cent of the world’s rare earths output. However, it is estimated to hold only 30 per cent of the world reserves. The United States, Australia and other nations had stopped mining as too expensive compared to China’s.” [2]

The impact of Chinese Mining practices may be of question. It is not unusual that Chinese state-sponsored corporations fail to follow rules. There is evidence that Sino-Sudan trades persisted even after a UN embargo had been instated. [4] China has experience with paying whoever will deliver with little care with regards who as long as they deliver for payment. It is of no surprise that Citic Resources had to make known that their own metal currently in port is being investigated for fraud. [5] Decheng Mining is under investigation for financing the activities of Citic Resources. This may provide officials and outsiders an opportunity to evaluate the larger picture as it relates to mining: Chinese financial...