Posted on 03/09/2018 8:40:41 PM PST by doug from upland
Embedded deep beneath the country's mountainous zones are some 200 varieties of minerals, including gold, iron, copper, zinc, magnesite, limestone, tungsten, and graphite, Quartz reports.
Some of these stockpiles are among the largest in the world, and North Korea, a tiny and cash-strapped nation, frequently uses them to bring in additional revenue — no matter the laws against doing so.
The total value of these minerals lies somewhere between $6 trillion and $10 trillion.
But the country is too poor to create the infrastructure needed to export the minerals — at least in large enough quantities to make a dent in its overall wealth. Still reliant on China, South Korea, and Russia for its financial and energy needs, North Korea has only made small deals with neighboring countries.
Lloyd Vasey, founder of the Center for Strategic and International Studies think tank, noted recently that North Korea's mining production has fallen by roughly 30% since the 1990s.
"There is a shortage of mining equipment," Vasey wrote, "and North Korea is unable to purchase new equipment due to its dire economic situation, the energy shortage, and the age and generally poor condition of the power grid."
In 2014, Russia mapped out the construction of a rail linewithin North Korean borders. Though it ultimately fell through, the plan was to entice North Korea with workable infrastructure in exchange for use of its mineral stockpile.
(Excerpt) Read more at businessinsider.com ...
Drop the nukes, full inspection, and perhaps we will help you develop your natural resources.
You don’t say!!!
A land in dire need of life, liberty, and the pursuit of happiness
Last time we were in North Korea chairman mao wasn’t happy.
Sounds like appropriate restitution for that conflict in the 50’s.
And? The same has been said about Afghanistan. So what? What is the point here? A madman commie dictator on top of a supposed gold mine of treasure. How does that change anything? Is he using it to benefit his own common man? Nonsense.
I’m at a loss as to why we would help them develop wealth no matter they drop the nukes, and allow full inspection.
Perhaps once the Communist N.K. regime becomes non existent we could deal with the unified Republic of Korea, but I don’t see any reason to help the North. We’ve already spent way too much over there, lives, time, and money.
I was stationed at Red Cloud 52 years ago. Time to finish this thing, and get the ‘H’ out of there.
Sure, we’ll give you money to help exploit your mineral resources. You are now the 51st state. Sign here.
My father suffered the Hadong ambush in 1950, but made it all the way to the outskirts of Pyongyang.
He turned 18, 6 days later.
https://en.wikipedia.org/wiki/Hadong_Ambush
Special Troops,I Corps G2, Camp Red Cloud.
Like Task Force Smith.
Similar.
Our guys were getting pounded then.
Dad assured me the survivors of the 3rd Battalion, 29th Infantry Regiment...the 300 or so who made it and able to fight...took more than their fair share of revenge later in the war.
But for those who do not know, the Norklandians are hardened fighters. And they will fight if ever called to do so. And they’re pretty good at it.
This could explain why certain people of the certain side have been secretly making trips there. Greed has no bounds for them.
That will be a good part of the challenge—channeling some of the wealth to the people.
Alex Jones sounded like he’d had a conversation with the big guy again when he reported that the deal with NK was done last week over a 4-hour dinner. It includes the dismantling of their nukes and a gradual 10-year plan for reunification. He said it was inevitable that the ruling fam would get a plutocratic stash, but at least the people would be free and no longer starving.
Well, that would be wonderful news. Those people have suffered too long.
Indeed - Afghanistan claims mineral wealth is worth $3trillion
I could speculate someone is trying to build a case for collateral for loans? Cui bono? I Wonder what the potential skim is on development loans.
North Korea, a mountainous country, has a lot of minerals in the mountains.
Big Deal. Every mountainous country does. Minerals in the ground do not translate into valuable ore.
Ore is minerals in the ground that can be mined at a profit. If the mineral cannot be mined at a profit, it is waste rock.
Maybe some of those minerals can be mined at a profit if a regime was in place that reliably followed the rule of law.
Mining is especially vulnerable to political instability.
Smaug also requests financial assistance in exploiting the treasures of Erebor.
Regards,
I was going to point out that we read the same stuff about Afghanistan a couple years ago, presumably as a left wing explanation of why US troops were there. The mineral resources of Afghanistan and North Korea are not proven to the extent of the mineral deposits in Africa and South America. So even when the infrastructure is already there, as in the case of South Africa, Zimbabwe, Venezuela, and dare I say Russia, it rapidly deteriorates under socialist management, and does not appreciably help the general population.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.