In 2015, the advancement of China’s “Belt and Road” national strategy injected a powerful boost into the global mining industry, which was still struggling. At the 2015 China International Mining Conference, it came as no surprise that one of the hottest topics was precisely the question of what opportunities the “Belt and Road” strategy would bring to the development of the global mining sector.

　　Many experts analyze that as the Belt and Road Initiative continues to deepen, it will further expand the scope for mineral resource cooperation among countries along the route, fully leveraging the complementary advantages of these countries in areas such as resources, markets, capital, industry, technology, and talent.

　　In today’s globalized mining landscape, the strategic vision of the Belt and Road Initiative heralds sincere cooperation among countries along its route, which will undoubtedly transform each country’s resource advantages into new drivers of economic growth, thereby bringing unprecedented new opportunities for the development of the global mining industry.

　　Abundant resources with extremely strong complementarity.

　　Under the Belt and Road Initiative, energy resources will be one of the key areas for cooperation among countries along the route. There is no doubt that the implementation of the Belt and Road Initiative will provide a new platform for mining cooperation among the countries along the route.

　　As Krim Salikavak, Deputy Director General of Turkey’s General Directorate of Mineral Resources Exploration, stated at the 2015 China International Mining Conference Forum: “The ‘Belt and Road’ initiative has provided us with a new platform. The countries along the route have historically been closely interconnected, and mutual cooperation is of great importance.”

　　Countries along the Belt and Road Initiative boast abundant mineral resources and serve as a major global supplier of mineral raw materials. Their role in global economic and social development can be aptly described as “crucial and indispensable.” Publicly available data show that this region holds nearly 200 types of mineral resources, with a total value exceeding 250 trillion U.S. dollars—accounting for 61% of the world’s total. Among these, the areas with the world’s largest coal reserves are located within China and Russia; Uzbekistan is known as the “Land of Gold”; Southeast Asian countries are home to a 2,500-kilometer-long tin ore belt and also rank among the world’s most renowned regions for precious gemstones and jade; currently, the countries in West Asia hold the largest proven oil reserves; India and Russia are significant diamond-producing regions; and Russia’s Kursk region contains the world’s largest iron ore basin.

　　Why are there such abundant mineral resources along the Belt and Road? On the afternoon of October 20, at the “Belt and Road” Countries’ Geoscience Cooperation Forum during the 2015 China International Mining Conference, Academician Pei Rongfu of the Chinese Academy of Engineering introduced the macrogeological context of the regions along the Belt and Road. “Among the four major metallogenic domains globally, as many as 12 metallogenic belts are located within the Belt and Road region, and the total number of large-to-superlarge ore deposits found in these belts reaches 326.”

　　More importantly, mineral resource cooperation among countries exhibits strong complementarity. For example, minerals that China lacks—such as copper, cadmium, and nickel—as well as strategic emerging minerals—are precisely the strengths of certain countries along the Belt and Road Initiative. Meanwhile, Central Asian countries, rich in oil and gas resources, have relatively weak exploration, development, and extraction capabilities. Thus, their cooperation with China holds broad prospects and enormous potential.

　　At the 2015 China International Mining Conference, Jiujiu Ao from the Geological Survey and Mineral Exploration Bureau of Myanmar’s Ministry of Mines stated that Myanmar boasts abundant mineral resources, yet its development methods remain relatively traditional and backward. “Currently, further mineral exploration and development are needed in eastern Myanmar. We are revising relevant legal provisions to attract foreign investors, hoping to bring in advanced technologies and methodologies that will help Myanmar overcome the challenges it faces in mining development.”

　　This situation is quite common. China and Southeast Asia are geographically adjacent and share interconnected geological structures. Southeast Asia lies in the southern extension of China’s southwestern Sanjiang metallogenic belt and the South China metallogenic belt, offering favorable conditions for mineral formation and abundant mineral resources within the region. However, exploration and development of these mineral resources remain relatively underdeveloped. “Initiating geological cooperation between China and Southeast Asian countries will help deepen our understanding of regional metallogenic patterns and better promote the sustainable development of the regional mining economy,” said Lin Fangcheng from the Chengdu Geological Survey Center of the China Geological Survey.

　　The prospects are broad and enthusiasm for cooperation is high.

　　Under the conditions of a mutually beneficial market economy, fully leveraging and integrating the strengths of all parties in terms of resources, capital, talent, technology, and equipment holds great appeal for the global mining industry, which is still undergoing a period of profound adjustment. Just on the eve of the 2015 China International Mining Conference, news began pouring in about countries along the “Belt and Road” actively promoting cooperation in the mining sector.

　　China’s first civilian think tank for Belt and Road mining cooperation has been established. Enterprises and institutions can now access detailed information on reserves, production levels, and development statuses of more than 50 mineral resources in the 65 countries along the Belt and Road. The Guangxi Zhuang Autonomous Region will undertake the construction of Cambodia’s first national geological laboratory. The first private equity fund focused exclusively on Belt and Road mineral resources and related industries has officially launched in Beijing, with a fundraising target of 10 billion yuan and expected to complete its fundraising by the end of this year...

　　Today, many countries along the Belt and Road have come to recognize—or have personally experienced—that in the post-financial-crisis era, the construction of the Belt and Road Initiative will enable them to share in the benefits of China’s reform and development, and transform their regional advantages—such as abundant resources, advanced technology, and financial strength—into market and cooperative strengths. As a result, countries along the Belt and Road are showing tremendous enthusiasm for engaging in mining cooperation.

　　At the recently concluded China-Russia Expo’s Northeast Asia Mining Cooperation Conference, representatives from countries including Russia and Mongolia gathered in Harbin to share their respective mineral exploration achievements and express their willingness to engage in active cooperation. To promote their mining projects, Russia specially prepared a thick promotional brochure. In just half a day, China and Russia signed agreements on 22 mining cooperation projects.

　　At the 2015 China-ASEAN Mining Cooperation Forum held in September, representatives from China, ASEAN countries, and other nations focused on mining opportunities under the Belt and Road Initiative, engaging in in-depth discussions on topics including the outlook for the mining industry, cooperation in geoscientific research, studies on mining policies, and geological environmental protection.

　　After deciding to collaborate with China’s Guangxi Zhuang Autonomous Region to build a national geological laboratory, Cambodian Secretary of State at the Ministry of Mines and Energy, Dy Thina, stated: “We hope that, in addition to benefiting both China and Cambodia, this initiative will also bring greater benefits to countries along the Belt and Road. We look forward to further exchanges with China’s Department of Natural Resources in the future.”

　　The regions along the Belt and Road are among the most dynamic areas for global economic development and also represent the world’s largest consumer of energy resources. At the Forum on Geoscience Cooperation along the Belt and Road, representatives from the mineral resource sectors of Myanmar, Vietnam, Thailand, Tajikistan, Pakistan, and Turkey shared information about their countries’ resource endowments and geological exploration efforts, while also expressing a strong desire for enhanced cooperation.

　　“This clearly demonstrates that stepping up exploration and development of mineral resources and transforming resource advantages into economic ones is a shared vision among countries along the Belt and Road,” an expert told reporters. “Cooperation is the only way forward.”

　　The expert told reporters that one of the biggest challenges currently facing China’s mining industry is overcapacity. “If we can transfer our excess capacity—as well as our technology and financial resources—this would not only benefit countries along the Belt and Road, but also allow us to seize the opportunity to optimize the structure of our mining industry.”

　　Take the steel industry as an example: The massive infrastructure investment under the Belt and Road Initiative will boost demand for steel, while countries along the Belt and Road represent important target markets for China’s steel exports. Such capacity cooperation will undoubtedly accelerate the pace at which Chinese steel mills expand overseas. This not only helps alleviate the situation of overcapacity domestically but also enables Chinese steelmakers to leverage superior mineral resources abroad, further reducing costs.

　　Geology takes the lead and has great potential.

　　Experts believe that the Belt and Road Initiative represents a major innovation through which China—now a global engine of economic growth—implements all-round opening-up. As for the mining development and sustainable development of developing countries, Pei Rongfu considers the Belt and Road strategy to be a groundbreaking initiative of our time.

　　Whether it’s innovation or pioneering initiatives, the construction of the Belt and Road Initiative has greatly boosted mineral resource development along its route, thereby creating opportunities for geological work. Many experts believe that the Belt and Road Initiative will provide a grand stage for geological work and international geoscience cooperation to shine.

　　At the Forum on Geoscience Cooperation along the Belt and Road, Pei Rongfu pointed out that mineral exploration is a public-benefit geological endeavor undertaken by geological institutions, aimed at addressing the “resource” issue of minerals. By contrast, mineral development is primarily a commercially driven geological activity conducted by market forces, with the goal of resolving the “asset” issue of minerals. Once we have both “resources” and “assets,” we must then bring these into the market and manage them as “capital.”

　　From this perspective, he outlined the role of geological work in mineral resource development along the countries involved in the Belt and Road Initiative. “Among the ‘three elements’ of mineral resource development—‘resources,’ ‘assets,’ and ‘capital’—‘resources’ should primarily be the domain of ore deposit geology and mineral exploration geology; ‘assets’ are the responsibility of mining entrepreneurs; and ‘capital’ should be governed mainly by economics and business studies.”

　　In addition, he also proposed establishing a “Belt and Road” mineral risk exploration fund to guide enterprises in conducting comprehensive exploration within mineral-rich zones, thereby facilitating rapid breakthroughs in mineral discovery.

　　Reporters learned at the 2015 China International Mining Conference that China has already achieved some results in geological cooperation with countries along the Belt and Road. “The China Geological Survey is stepping up its efforts to jointly conduct regional geological surveys, geophysical explorations, and geochemical mapping with countries along the Belt and Road,” said Wu Zhenhan, Director of the Science and Technology Division of the China Geological Survey. “For example, the 1:5 million International Geological Map of Asia, jointly compiled by more than 100 geologists from various Asian countries under the auspices of the Institute of Geology, Chinese Academy of Geological Sciences, was rated by the International Commission on Geological Maps as the Best Geological Map of 2014.”

　　In the view of many experts, this solid geological work undoubtedly provides indispensable macroscopic geological data for mining development under the Belt and Road Initiative. At the 2015 China International Mining Conference, officials and scholars from geological survey agencies in numerous countries expressed a strong desire to engage in geoscientific cooperation. Syed Ihteshaq Khan of the Geological Survey of Pakistan stated that, driven by the need for economic development, Pakistan is urgently seeking to maximize its energy utilization and foster a thriving mining sector. “We hope that geological institutions from other countries will join forces with us in carrying out geological surveys in Pakistan,” he said.

　　“Different civilizations will mutually integrate, and peoples of various nations will come to know and connect with one another. We sincerely hope that the holding of this conference—and especially this forum—will further promote integration and cooperation among countries along the Belt and Road in the field of energy resources, enabling us to leverage our respective strengths, share risks collectively, and reap mutual benefits, ultimately achieving win-win development.” At the conclusion of the “Belt and Road” Countries’ Geoscience Cooperation Forum held during the 2015 China International Mining Conference, the host’s words of blessing perhaps echoed the heartfelt sentiments of all the participants.