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China will further open its mineral resources market to overseas investors by allowing them to prospect and mine.
Overseas investors will be able to apply for a reduction or exemption in the cost of applying for the rights of prospecting and mining, Li Yuan, vice-minister of land and resources, announced at the on-going Western Forum of China in Chengdu, Sichuan Province.
The state encourages foreign investors to invest in comprehensive mineral development. Investors will be able to enjoy reductions in cost for exploiting paragenesis and associated minerals.
Mineral exploitation in western China is encouraged. Foreign investors are welcome to cooperate with large and medium-sized Chinese mineral firms in prospecting and mining.
(Xinhua 10/23/2000)
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