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STATS: China's fixed investment in mining is putting the rest of the world to shame

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  • STATS: China's fixed investment in mining is putting the rest of the world to shame

    STATS: China's fixed investment in mining is putting the rest of the world to shame
    According to the National Bureau of Statistics of China the country's fixed-asset investment in the mining industry reached $211 billion (CNY 1,312.9 billion) in 2012, an increase of 11.8% over 2011.

    Fixed-asset investment in coal mining – China is the world's number one producer and importer of the commodity – was up 7.7% year on year to $85 billion.

    Capital expenditure in the ferrous metal mining industry raced ahead 23.7% last year to $24.6 billion.

    This figure is in contrast to a 2% contraction in the steelmaking industry – the only sector in the country showing a decline in fixed asset investment.

    The growth in steelmaking raw material projects were only outpaced by an increase in **n-metal mining of 26.3% to $26.2 billion.

    Investment in **nferrous metals mining in 2012 also experienced robust growth – up 19% to $23.7 billion.