N. Korea offers China concession for mining its rare earths
- 5 years ago
As North Korea and China recently celebrated the 70th anniversary of their bilateral ties... the two sides might be considering an investment deal that could violate international sanctions placed on the North Korean regime.
Kim Ji-yeon reports.
In order to overcome its dire power shortages, North Korea may have offered China concessions for the mining of its rare earths... in exchange for the building of a solar power plant.
That's according to the homepage of the China-based Association for Rare Earth... which cited local industry news sources... and multiple sources familiar with the matter.
Rare earths are used for the production of cellphones and electronics... and any exchange of North Korean rare earths is a violation of United Nations sanctions placed on the North.
The homepage said the proposal submitted by North Korea stated that if China invests in the building of a solar power plant in Pyeongyang... the North will allow China to mine rare earths.
The plant, is expected to cost two-and-a-half-billion U.S. dollars for construction... and generate 2-and-a-half-million kilowatts of electricity.
Local media outlets in South Korea have cited various sources as saying the number of Chinese tourists to the North is also estimated to have risen by more than 50-percent on-year to some 150-thousand... mainly due to Beijing's full support.
Kim Ji-yeon, Arirang News.
Kim Ji-yeon reports.
In order to overcome its dire power shortages, North Korea may have offered China concessions for the mining of its rare earths... in exchange for the building of a solar power plant.
That's according to the homepage of the China-based Association for Rare Earth... which cited local industry news sources... and multiple sources familiar with the matter.
Rare earths are used for the production of cellphones and electronics... and any exchange of North Korean rare earths is a violation of United Nations sanctions placed on the North.
The homepage said the proposal submitted by North Korea stated that if China invests in the building of a solar power plant in Pyeongyang... the North will allow China to mine rare earths.
The plant, is expected to cost two-and-a-half-billion U.S. dollars for construction... and generate 2-and-a-half-million kilowatts of electricity.
Local media outlets in South Korea have cited various sources as saying the number of Chinese tourists to the North is also estimated to have risen by more than 50-percent on-year to some 150-thousand... mainly due to Beijing's full support.
Kim Ji-yeon, Arirang News.