U.S. Global Investors Travels China’s High Speed Railroads
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Portfolio manager Evan Smith recently traveled across China exploring some of the country’s mining facilities and even riding the world’s fastest train.
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Evan surveys a Chinese mining facility located in Shandong Province. As you can see, hard hats are required.
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New mining facilities are being built all across the continent. Due to new technologies and increased production, China produced nearly 120 million tons of steel and iron in 2010.
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Evan snapped a photo of a magnetic separator, which uses magnets to separate magnetite out of mined minerals. The equipment helps upgrade the unearthed material iron ore content from 15 percent grade to 65 percent grade.
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China is building the world’s largest network of high speed rails at an incredible speed. The country has laid down more than 4,600 miles of new tracks since the first lines were opened in 2008.
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The world’s fastest train currently runs from Shanghai to Hangzhou. Test runs reached speeds of more than 300 miles an hour in December 2010 but regular service on the 120-mile trip runs around 236 miles an hour.
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China’s current high speed rail network connects about one-third of the country’s cities and is the longest in the world. Experts predict that 100 percent of China’s major cities will be connected through high speed rails by 2019.
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Once completed, the high speed rail system will connect more than 250 Chinese cities, span 18,641 miles and reach roughly 700 million people.
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