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2017.06.28
| Won | Pyongyang | Sinuiju | Hyesan |
|---|---|---|---|
| Exchange Rate | 8,070 | 8,050 | 8,095 |
| Rice Price | 5,800 | 6,000 | 5,900 |
North Korea possesses roughly $6.4 trillion in untapped mineral resources, a report released by a South Korean lawmaker asserted yesterday.
Ruling Saenuri Party lawmaker and member of the Science, ICT, Future Planning, Broadcasting and Communications Committee Kim Eul Dong's office based the latest assessment on data provided by the National Assembly Research Service (NARS). According to the NARS report, North Korea has around 20 different types of economically viable resource.
In particular, the report points to North Korea holding the world’s 2nd largest reserves of Magnesite, 3rd largest reserves of Graphite, and 6th largest reserves of Tungsten.
However, at the time of writing there are believed to be just 26 different mine developments in progress in North Korea, suggesting immense untapped potential but also the existence of practical and political difficulties in bringing the subterranean resources to market.
Of the 26 existing mining projects, 20 are being led by Chinese firms, with one under South Korean control.
According to Kim, South Korea ought to actively engage North Korea in dialogue if it wishes to secure access to the reserves. South Korea, he noted in the report, is “100% reliant on imports” for minerals like Magnesite and Zinc.
Ruling Saenuri Party lawmaker and member of the Science, ICT, Future Planning, Broadcasting and Communications Committee Kim Eul Dong's office based the latest assessment on data provided by the National Assembly Research Service (NARS). According to the NARS report, North Korea has around 20 different types of economically viable resource.
In particular, the report points to North Korea holding the world’s 2nd largest reserves of Magnesite, 3rd largest reserves of Graphite, and 6th largest reserves of Tungsten.
However, at the time of writing there are believed to be just 26 different mine developments in progress in North Korea, suggesting immense untapped potential but also the existence of practical and political difficulties in bringing the subterranean resources to market.
Of the 26 existing mining projects, 20 are being led by Chinese firms, with one under South Korean control.
According to Kim, South Korea ought to actively engage North Korea in dialogue if it wishes to secure access to the reserves. South Korea, he noted in the report, is “100% reliant on imports” for minerals like Magnesite and Zinc.
