Due to its location, Golmud abounds with natural resources from nearby salt lakes. Thus, industries involving salt lake chemicals have sprung up. Qarham Salt Lake to the northeast of Golmud proper boasts an area of 5,856 km², making it the biggest inland salt lake in the world. Qarham Salt Lake resources are estimated to be worth over 15 trillion yuan. The lake is also China's largest production base for potassium, magnesium, and salt. Golmud also possesses natural gas reserves of 1 trillion m³ plus over 50 varieties of minerals like gold, copper, jade and precious stones, lead, and zinc. Other important industries in Golmud include petrochemicals, oil refineries, and gas fields. Statistics for 2001 show that the city's nominal GDP totalled 2.213 billion yuan, a rise of 31.9% from the previous year and the highest growth rate since 1990. The Golmud Kunlun Economic Development Zone, which consists of an area of 28 km², was built in 1992. Golmud is planned to become "China's Salt Lake City"
