This conference focused on the outcomes, innovative directions, and future areas of effort in the geological and mineral resources industry. Chairman Wang, drawing on the content of the two-day conference, summarized its key features and achievements, and put forward suggestions and expectations for the industry’s development. The details are as follows:

Summary of the core features of the meeting

Proactiveness, practicality, and innovation

• Proactive Take Aifenghao (represented by Feng Tao and others) as an example: As a “constant” in the exploration industry, it has demonstrated forward-looking vision by consistently moving forward while documenting setbacks and steering clear of treacherous shoals. The alliance between Zijin and Aifenghao is seen as a case of “like-minded heroes recognizing each other,” offering valuable insights for mineral explorers.

• Practicality Emphasizing outstanding “real-world” performance, the speakers all shared key insights based on their own practical experience—for example, Deng Xiaohong’s case study on mineral exploration using electrical and electromagnetic methods—pointing out that “only by striking ore can we truly prove our worth,” thereby highlighting the critical importance of fieldwork for geologists.

• Innovative The speaker, a veteran in the geology and mining industry with 50 years of experience, candidly admitted that he was previously unfamiliar with certain innovative technologies—such as superconducting precision conversion and quantum-related technologies. He has taken note of new devices that leverage aerospace technology to address Earth’s challenges, but cautioned that it’s crucial to clearly understand the underlying mechanisms behind these innovations. He emphasized, “We must avoid rushing into innovation; instead, we should reflect on the innovations of others.” True knowledge comes from practice.

The three core outcomes of the meeting

Combining theory with practice

• The conference embodies three core principles: the integration of theory and practice, the combination of inheritance and innovation, and the fusion of domestic and international perspectives. Among these, the integration of theory and practice serves as the foundation—speakers draw on their practical experience to distill key insights and provide guidance for real-world work.

Combining inheritance with transformation

• It was emphasized that the classical theories of geology—such as Huang Jijian’s plate tectonics, Li Siguang’s mechanics, and Chen Guoda’s geosyncline theory—are a precious legacy left by our predecessors and remain highly valuable even in the AI era. “Inheriting the past and embracing change should go hand in hand.”

Combining domestic and overseas experiences

• Sun Tiemin, President of the Hong Kong Mining Association, served as a bridge to screen and introduce crucial overseas information. For instance, Li Yong from Liaoning’s Fifth Team shared insights on China’s largest single gold deposit—weighing 1,444.48 tons—and discussed the potential for sharing 5,000 tons of gold from Uzbekistan’s Muruntau gold mine. This exchange highlights the fruitful collision of domestic and international experiences. The integration of domestic and overseas perspectives has yielded significant results, and future exchanges are poised to achieve even greater accomplishments.

The industry’s three major areas of focus for the future

Consciously embrace the AI era and view the role of technology rationally.

• Necessity The AI era has arrived, and all sectors across the country—including the geology and mineral resources sector—need to proactively adapt. The conference has already taken on a strong AI flavor, but we must “approach it with clarity and rationality.”

• Positioning and Attitude AI can enhance mining efficiency, save time, and reduce costs (as argued by Beijing Xingkan Intelligent Technology Co., Ltd.; the speaker agrees). However, the claim that “AI can directly locate mineral deposits” is not credible (the speaker remains skeptical). Professor Xiao Keyan pointed out that mineral deposits around the world vary significantly due to distortions in the original geological framework caused by crustal and hydrothermal activities. For instance, the basalt region of Jinzhai in Anhui Province has formed large-scale mineral deposits as a result of three episodes of hydrothermal activity. Therefore, we must scientifically define AI’s role—“approach it with a clear and rational mindset, avoid unfounded hype or excessive enthusiasm, refrain from blind faith, and stay on the right path.”

• Practical Path China already has sophisticated software (which has accumulated vast amounts of data and achieved R&D results that are no less impressive than those abroad). We should focus on steady, pragmatic development and avoid blindly following trends. Instead, we must promote AI applications with a scientific approach.

Focus on addressing the短板 (the alignment between capital and markets) and catch up head-on.

• Industry shortcomings Chinese geologists excel in fieldwork—hiking through rugged terrain and camping under the stars to search for mineral deposits—but they have a clear shortcoming: "they lack the ability to attract investment and are unfamiliar with capital markets." For example, companies in countries like Canada can easily raise funds through capital markets ("the capital market acts as an amplifier"), whereas in China, mining rights struggle to be converted into assets, capital, and securities ("the pathway for bridging technology with capital and transforming mining rights into assets and then into capital remains unopened").

• Specific case Fu Minlu (born in 1949, Chairman) successfully discovered mineral deposits himself after dismissing the geologist; companies from Canada and other countries are rapidly raising capital through capital markets (in contrast to China’s current shortage of funds).

• Recommended measures Call for establishing a risk-development mechanism in China (Chairman Wang put forward this suggestion to Minister Wang, which received serious attention); promote the integration of industrial capital and financial capital, leveraging the capital market to amplify profits (as exemplified by Mr. Fu’s success through the capital market).

Unhesitatingly engage in international competition and governance, and seize the opportunities.

• International Competition Opportunities The Fourth Plenary Session proposed building “16 powerful nations” (including sectors such as finance and energy). Against the backdrop of the resource competition between China and the West, the West believes that high-risk regions may present opportunities for Chinese enterprises—for instance, as Chen Jinghe, Chairman of Zijin Mining, put it, “We must forge ahead, stepping on thorns.”

• International Governance Action We need to enhance our voice and influence in the global mining industry—“to have a say and wield real impact.” For example, Shanghai once hosted an expo attended by 20,000 people (a project spearheaded during the speaker’s retirement). The Nonferrous Metals Network now boasts a global metal pricing index (previously dominated by the London Exchange; currently, pricing power for new-energy metals such as lithium, cobalt, and nickel is awaiting transfer). Looking ahead, we plan to organize a mining conference led by Chinese enterprises in Southern African countries—responding to Chen Jining’s call.

• Individual action Although the speaker (77 years old) is retired, she remains deeply committed to the industry and is eager to lend her voice to its cause—for instance, by helping advance international mining governance. She emphasizes that “it’s never too late to shine and make a meaningful impact, regardless of age.”

Suggestions and Expectations for the Follow-up of the Meeting

• Topic Optimization It is recommended to expand the conference title from “Exploration and Discovery” to “Exploration and Discovery, Investment and Development,” thereby facilitating the flow of exploration results into development through investment (attracting greater attention from both domestic and international enterprises).

• Meeting Design Next year’s conference needs to be planned more carefully—for instance, by considering the addition of an exhibition and inviting more participants from overseas. If conditions permit, we could also discuss issues related to capital markets. For example, we might explore reforms allowing stock purchases in RMB through collaboration with the Hong Kong Exchange.

• Summary and Thanks We’d like to thank Chairman Wang for inviting Minister Wang to attend the conference! Minister Wang highly praised the conference and expressed his intention to return next year, provided his health permits. We extend our heartfelt gratitude to all the guests and leaders who have consistently attended the conference and offered their support. We look forward to seeing the conference continue from one session to the next, growing better and better with each iteration.