Mining funding urged

The government should set up a metal mining development fund to help Chinese companies explore local and overseas resources, the president of China Minmetals Corp (Minmetals) said.

Capital could be raised from China Investment Corp, local banks, miners and foreign strategic investors, Zhou Zhongshu, a member of the 11th National Committee of the Chinese People's Political Consultative Conference, said.

The fund should invest in domestic and overseas mining groups to establish the country's key resource reserves, he said.