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Asia's largest manganese ore reserve discovered in China

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Asia's largest manganese ore reserve discovered in China

The geology and mineral exploration bureau of China's Guizhou province discovered a reserve estimated to contain 203 million tonnes of manganese ore in the southwest portion of the province, Reuters wrote April 8, citing Xinhua News Agency.

The reserve is said to be the largest in Asia and has a potential value of more than 100 billion Chinese yuan, local authorities said.

According to a geologist and academic at the Chinese Academy of Engineering, Chen Yuchuan, the newly discovered deposits make up 60% of the country's total proven reserves and will reduce China's dependence on imports.

As of April 7, US$1 was equivalent to 6.90 Chinese yuan.