Posted September 29, 2018 09:04:10The owner of a graphite ore company in China says he has seen no demand for the precious metal in his area and says he does not see the mining boom in the country.
Gregory Yang, owner of the Hong Kong-based OreCorp Group, told NBC News on Tuesday that there is not much demand for graphite in China.
“We have been operating for 25 years.
We have been here for a long time,” he said.
Yang says that he has received reports of demand for gold and silver.
“There is nothing here,” Yang said.
“The demand is coming from Hong Kong.”
Yang said that he was not sure how many miners are in the area.
He said he has not received any requests for graphites from investors, but added that he does see the company getting in-roads in the region.
“It will only take us about two years to reach the target,” Yang told NBC.
“So, I don’t really see much demand.”
Yang said that OreCorp had been in the process of setting up a mining operation in the Shenzhen area of the province, but that he had not received an official request for the ore to be extracted.
“If I do get a request from someone who wants it, I will definitely get it,” he told NBC, adding that he did not have any concrete information about when the mine would be operational.
Yang also said that there are plans to set up a processing facility in Guangdong province.
“China is not a producer country.
We don’t want to be in the middle of a conflict,” he added.
Yang’s comments came a day after Chinese Premier Li Keqiang announced plans to open up a new mine in the province of Shandong, the country’s second largest.
Li said that the province’s coal industry will be open by the end of 2018 and the province would welcome the arrival of Chinese miners.
“I have been very clear that we will not allow any type of conflict to break out between China and the United States,” Li said at a press conference.
“Therefore, I have decided to open a new coal mine in Shandang.
The mine will be an enormous economic boost for China.”
Li added that the project will include about 600 jobs and would help the province build a new energy industry.
The province is home to about 2.5 million people, and the region is estimated to be the world’s largest producer of graphites, with China being the largest exporter of the mineral.
The U.S. Geological Survey estimates that the Shenzhen Mine will produce about 1.5 billion pounds of graphitic ore annually.