The Chinese government announced the discovery of high-grade iron ore deposits in east China's Shandong Province, with estimated reserves of about 104 million tons. The Shandong Provincial Natural Resources Administration has identified 16 high-grade iron ore deposits in the Xihe-Yuecheng area of China, Xinhua News Agency reported. High-grade iron ore typically has a total iron content of more than 45 percent. The newly confirmed high-grade iron ore deposit is one of the few in China, featuring large distribution, large thickness of the ore body, high quality of the ore and promising exploration potential, said Hu Zhiyong, an official with the administration. A total of 173 types of minerals have been found in China by 2022, according to a report by the Chinese Ministry of Natural Resources
