Although little is known about China's PGM potential, a 1000 km long north - south trending belt has been identified to contain economic concentrations of PGM bearing lithologies. The belt is primarily located in the Yunnan and Sichuan Provinces and apparantly displays similarities to the geological setting of the world famous Norilsk PGM and base metal deposits found in neighbouring eastern Russia.
Most work has been carried out on the JBS deposit that is located in the Yunnan Province, 200km away from the regional capital city of Kunming. To date the Chinese Government has carried out extensive studies over the JBS deposit, resulting in a drill indiacted resource containing 33 Mt grading 1.1 g/t palladium, 0.4 g/t platinum, 0.15 % nickel and 0.14 % copper. The orebodies appear as horizontal bodies that vary in width. Canadian Pacific Minerals Inc. has entered into an agreement with Yunnan Platinum & Palladium Inc. (YUPP) that has a 70% interest in the JBS deposit. YUPP has an option agreement with the Yunnan Geology & Mineral Resource Exploration and Engineering Company (YMGMR) to evaluate the deposit. In a separate agreement, Yunnan Geology and Mineral Resources Company has an agreement with Southwestern Resources over the evaluation of the Yialing Project that has potential PGM and nickel mineralisation.
the storage of platinum in nature is much less than that of gold. According to incomplete statistics, the total storage of platinum in the world is 14 000 tons ( the total storage of platinum family element mineral resource is about 31 000 tons and reserve base is 78 000 tons) which is 5 % of gold reserves. But platinum accounting for 98 % of the total storage of the world mainly concentrates in South Africa, and Russia. Platinum reserves in South Africa is about 27 000 tons,accounts for 75 % of the total storage of the world and takes the first place in the world. Chinese platinum family metal mineral resource is in scarcity, the reserves is no more than 1 % of that of the world. Our country only has 310 tons, and platinum mainly concentrates in Gansu, Yuinnan and Sichuan provinces. There are three deposits among the three provinces, and they are Baijiazui in Jinchuan of Gansu Province, Jinbaoshan in Midu of Yunnan Province and Yangliuping of Sichuan Province. Platinum reserves in Baijiazui accounts for 90% of the total reserves of our country. However, China has been a country consuming the most platinum in the world, annual consumption reaches to 40 tons and accounts for closely a half of the total output of the world. But it mainly depends on importation.