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North Korea's mineral resources estimated at KRW 3,795 trillion - Report

Mining News - Published on Mon, 15 Oct 2018

Image Source: Yonhap
Yonhap reported that North Korea has mineral resources estimated to be worth KRW 3,795 trillion in terms of current market value, about 15 times that of South Korea. The North is sitting on a vast amount of mineral resources, including magnesite (6 billion tons), graphite (2 million tons), iron ore (5 billion tons) and tungsten (250,000 tons), according to the Korea Resources Corporation's (KRC) report submitted to the parliament. Pyongyang has signed 40 investment agreements in regard to its minerals with foreign companies, with 90 percent of them being with China, its closest ally, the KRC said.

This graphic image illustrates potential joint projects between South and North Korea. (Yonhap) This graphic image illustrates potential joint projects between South and North Korea.

Rep. Park Jung of the ruling Democratic Party expressed concerns over China's dominance in North Korea's mineral trade, calling for the Seoul government to carry out reviews of North Korean mines as soon as possible.

Meanwhile, South Korea had carried out inspections of North Korean mineral resources following the inter-Korean summit in 2000, but all ties have been suspended since 2010 due to soured ties between the two sides.

Source :

Posted By : Rabi Wangkhem on Mon, 15 Oct 2018
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