[Focus] 13.364 Billion Yuan Transactions! Sichuan Achieves First "Double Hundred Goals" in 2024 Mining Rights Auctions

Recently, the Sichuan Provincial Department of Natural Resources announced that in 2024, Sichuan successfully auctioned 111 mining rights, generating 13.364 billion yuan in transactions, marking the province’s first achievement of its "Double Hundred Goals" (100+ projects and 100+ billion yuan).

Since the launch of the new round of mineral exploration breakthroughs, Sichuan has strategically managed mining rights allocation by integrating tenders, auctions, and listings. This approach ensures resources align with industrial needs and promotes high-end industrial development, providing robust support for the province’s strategic emerging industries. Building on 2023’s success—54 mining rights auctioned for 14.282 billion yuan, the highest in a decade—2024’s results solidify Sichuan’s progress.

Key Highlights:

April 2024: Liangshan Prefecture released China’s first Agate Exploration Technical Guidelines, filling regulatory gaps. The detailed exploration rights for Waxi Agate in Meigu County sold for 101 million yuan, becoming China’s first "Southern Red Agate" mining rights auction with a 3,158.06% premium.

August 2024: Sichuan Energy Investment Tianfu Oil & Gas Exploration Company secured petroleum and gas exploration rights in Hongya and Leshan North blocks, marking the first market-driven acquisition of oil-gas mining rights by a provincial state-owned enterprise.

December 2024: Drilling began at the "Chuan Neng Letan-1 Well" in Leshan North block just five months after licensing, showcasing "Sichuan Speed."

2025 Outlook:
Sichuan will refine its mining rights auction system, prioritize strategic mineral licensing, and align resource allocation with industrial chains. By leveraging tenders, auctions, and listings, the province aims to bolster support for emerging industries.

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