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China Signs North Korea Investment Deal: Possibility Of REE Development
Aug. 14, 2012 08:53PM PST
Rare Earth InvestingBusiness Insider reported that China has signed a deal with North Korea, in support of big Chinese companies who are willing to invest in North Korea to broaden the economic trade of both countries and to motivate cooperation on large projects. Speculation on possible investment opportunities include the development of North Korea’s mining potential, especially rare earth minerals.
Business Insider reported that China has signed a deal with North Korea, in support of big Chinese companies who are willing to invest in North Korea to broaden the economic trade of both countries and to motivate cooperation on large projects. Speculation on possible investment opportunities include the development of North Korea’s mining potential, especially rare earth minerals.
As quoted in the press release:
It’s unclear from the statement exactly what the investment would be, but recent developments suggest that North Korea has been looking for outside help in developing its mineral mining industry. North Korea is thought to sit on $6 trillion worth of minerals, including a large amount of rare earth metals — an asset which China dominates the trade of. China does not adhere to a number of US and UN sanctions on North Korea that restrict its trade.