- Registration time
- Last login
- Online time
- 943 Hour
- Reading permission
seneca Post time: 2017-11-8 15:46
Yeah, how about SPEAKING ABOUT N KOREA when you know absolutely NOTHING about it?
Please don't t ...
Let me help you along a bit...
Mining only makes up 13 per cent of North Korea's economy...
An 2016 UN resolution banned the export of gold, vanadium, titanium, and rare earth metals from North Korea.
In 2014, the North produced 3.4 million tonnes of iron-ore to the South’s 0.6 million...
North Korea's mineral wealth was estimated at $10 trillion (£7.5 trillion) in 2012 by a South Korean research institute...
It include coal, iron ore, magnesite, gold ore, zinc ore, copper ore, limestone, molybdenite, graphite and tungsten, all with potential for the development of large-scale mines.
The country's magnesite reserves are the second largest in the world after China, and its tungsten deposits the planet's sixth largest, according to the report.
Privately-held SRE Minerals on Wednesday announced the discovery in North Korea of what is believed to be the largest deposit of rare earth elements anywhere in the world.
SRE also signed a joint venture agreement with the Korea Natural Resources Trading Corporation for rights to develop REE deposits at Jongju in the Democratic People’s Republic of Korea for the next 25 years with a further renewal period of 25 years.
The joint venture company known as Pacific Century Rare Earth Mineral Limited, based in the British Virgin Islands, has also been granted permission for a processing plant on site at Jongju, situated approximately 150 km north-northwest of the capital of Pyongyang.
The initial assessment of the Jongju target indicates a total mineralisation potential of 6 billion tonnes with total 216.2 million tonnes rare-earth-oxides including light REEs such as lanthanum, cerium and praseodymium; mainly britholite and associated rare earth minerals. Approximately 2.66% of the 216.2 million tonnes consists of more valuable heavy rare-earth-elements.
According Dr Louis Schurmann, Fellow of the Australasian Institute of Mining and Metallurgy and lead scientist on the project, the Jongju deposit is the world’s largest known REE occurrence.
The 216 million tonne Jongju deposit, theoretically worth trillions of dollars, would more than double the current global known resource of REE oxides which according to the US Geological Survey is pegged at 110 million tonnes.
Minerals like fluorite, apatite, zircon, nepheline, feldspar, and ilmenite are seen as potential by-products to the mining and recovery of REE at Jongju.
Further exploration is planned for March 2014, which will includes 96,000m (Phase 1) and 120,000m (Phase 2) of core drilling, with results reported according to the Australia’s JORC Code, a standard for mineral disclosure similar to Canada’s widely used National Instrument 43-101.
I hope this will help to understand what's cooking between the Noryh and uncle sam...
Most wars are over resources...