China poised to offer 20 exploration blocks.

Blossoming potential: China is ready to offer 20 blocks in August

AFP/SCANPIX

By Xu Yihe Singapore

 20 April 2012 02:05 GMT

China's Ministry of Land & Resources (MLR) is poised to offer 20 blocks to up to 17 companies in August this year, some months after the previously announced target of March or April for the launch.

The blocks are spread over more than 10 provinces, including Guizhou, Sichuan, Hunan, Shaanxi, Jiangsu, Anhui and Henan, Chongqing city and Xinjiang region.

Most of them are located in the 19 target basins and regions listed by MLR for exploration as part of the campaign during the current five-year development period, from 2011 to 2015.

MLR sources said private companies are invited to participate in the bidding, but they have to have a registered capital of 300 million yuan ($48 million) and minimum cash of 1 billion yuan.

In addition, the participants should either…

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