Report: China Dominates N. Korean Mineral Resources Development Project

Write : 2017-10-02 14:38:44 Update : 2017-10-02 15:06:57

Report: China Dominates N. Korean Mineral Resources Development Project

South Korean government data shows that North Korea has ample mineral resources potentially valued at nearly 28 billion dollars, and that China is dominating the country’s mineral resources development.

The findings by the Korea Resources Corporation(KORES) were made public Monday by Rep. Eoh Kiy-ku from the ruling Democratic Party.

The report said the values of the mineral resources in the North were estimated at three-thousand-200 trillion won, or 27-point-nine billion U.S. dollars, as of the end of last year, which is about 14 times that of South Korea’s mineral resources.

It said China is partnering with the North in 33 out of 38 joint development projects involving foreign countries.

It said two other joint projects involve Japan, while France and Switzerland are cooperating with the North on two and one other projects, respectively.

All of the North’s long-term, joint mine development projects spanning from 10 years to 50 years were all made with China, with the target minerals varying from gold to silver, iron ore and coal. 

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