On July 28, Chinese state-owned metals and mineral trading company China Minmetals Corporation signed a joint development agreement with the government of the county of Qilian in China's Qinghai Province to explore mineral resources in the county.
Under the framework of the agreement, China Minmetals will carry out exploration work for rare earth, coal, molybdenum ore and copper ore, while it will also integrate existing mineral resources in the county. In addition, it will also carry out mergers with some small coal mines.
The local authorities in Qilian said the deal will transform the chaotic state of the local mineral industry and will bring benefits to the region