China addresses buyer with new laws

China has tightened the requirements for creating a new buyer -mosque in its latest efforts to combat the ongoing expansion of the production capacity of the largest product of refined minerals in the world. Companies that build a new copper mosque must acquire sufficient supplies of mines- whether through direct ownership or ownership of capital to provide fabric factories, according to the country’s copper industry development plan for the period 2025-2027, which was jointly issued by 11 ministries. This condition is likely to meet a limited group of large Chinese businesses. Faring competition on raw buyer The sector has seen a fierce competition for the raw material, as mines around the world had interference in production, the decline in the quality of raw materials and the high cost of exploration. Immediate treatment fees dropped below zero, which led to sector level losses and threatened to reduce production in Chinese factories. Read more: Expectations to reach the demand for buyer in China, its peak in 2030, the Chinese did not mention the Chinese Mineral Industry Association last October to impose the new mosque restrictions as it is a ‘maximum priority’ and requested the buyer sector to take advantage of the experience of government interference in the steel and aluminum industries. China imports about 85% of the concentrated crude materials used in its factories, according to the data of the US geological survey. China produced 12 million tonnes of refined copper in 2023, while mining production reached 1.7 million tonnes. Copper reserves in China reached the total red metal reserves 41 million tonnes, as in 2023, which represents 4.1% of the global total, according to the US geological survey. Also read: China faces the global copper crisis by raising its production to a semi record level. China wants to increase the resources of local copper mines by 5% and 10% within three years to ensure that the supply of raw materials is ensured, according to the government plan. China will also encourage Mazer Al -Nahhas to conclude long -term purchase agreements with global mining companies and to improve the semi -felt copper imports, while encouraging the import of copper scrap, according to the plan.