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|Posted: Fri Aug 10, 2012 4:22 pm Post subject: North Korea Rising: Rare Earth Mineral Reserves Rival China
|North Korea could rival China on rare earths reserves – study
9 August, 2012 | RT
'North Korea is sitting on around 200 different minerals, including a large number of rare earth metals, hidden in its mountains. The prized resources are attracting companies from China and South Korea, despite the political tension. In recent years the isolated country has shown no signs of economic improvement such as large-scale construction projects, modern cars and improved infrastructure, apart from the rumors of a nuclear weapons programme, Leonid A Petrov, a lecturer in Korean studies at the University of Sydney, wrote in an article in Asian times. The country’s economic recovery after famine and natural disasters could come from the exploration of its rich mineral resources, he stressed.
North Korea's is set to have the world’s second-largest magnesite reserves, and its tungsten deposits are almost the world's sixth-largest. The country also holds sizeable deposits of coal, iron ore, gold, zinc, copper, limestone, molybdenum, and graphite. About 40% of the 138 Chinese companies registered as doing business in North Korea in 2010, are engaged in extracting minerals, according to the U.S. Korea Institute at Johns Hopkins University.'
Related: Rare Earth Metals Report
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