ID :
190574
Thu, 06/23/2011 - 06:12
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Shortlink :
https://oananews.org//node/190574
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N. Korea seen exploiting rare earth minerals for exports
SEOUL (Yonhap) - North Korea is showing a growing interest in developing rare earth minerals, in an apparent bid to earn much-needed cash from selling the materials abroad.
Rare earth minerals are compounds of rare earth metals, including cerium and neodymium, which are used as a crucial element in semiconductors, cars, computers and other advanced technology areas. Some types of rare earth materials can be used to build missiles.
In a report carried by North Korea's official Korean Central News Agency (KCNA) earlier this week, the communist state said it is working on developing rare earth minerals for economic growth.
"An effective utilization of rare earth minerals is of weighty significance in economic growth," the report said, quoting Kim Hung-ju, vice department director of the North's Ministry of State Resource Development.
"The DPRK government has paid much effort to the exploitation and utilization of rare earth minerals," it said, referring to North Korea by the acronym of its official name, the Democratic People's Republic of Korea.
The report added that there are large deposits of high-grade rare earth minerals in the western and eastern parts of the country, where prospecting work and mining have already begun. It also said the rare earth elements are being studied in scientific institutes, while some of the research findings have already been introduced in economic sectors.
The article follows another KCNA report in July 2009 that described North Korean leader Kim Jong-il's inspection of a semiconductor materials plant, saying he stressed the importance of producing more rare earth metals.
Until now, North Korea's official media have mostly reported on the use of rare earth minerals in medicine and fertilizers. But its new focus on developing and using the materials appears to stem from the country's interest in selling the metals for a high price on the international market, according to experts.
Rare earth elements are becoming increasingly expensive, as China, the world's largest rare earth supplier, puts limits on its output and exports.
"It appears that North Korea only recently started taking an interest in rare earth materials," said Choi Gyeong-su, head of the North Korea Resources Institute in Seoul. "The country does not have the technology to even determine the exact amount of its reserves, so it doesn't seem likely anytime soon that the rare earth materials will be used to produce goods for the high-tech industry."
Rare earth minerals are compounds of rare earth metals, including cerium and neodymium, which are used as a crucial element in semiconductors, cars, computers and other advanced technology areas. Some types of rare earth materials can be used to build missiles.
In a report carried by North Korea's official Korean Central News Agency (KCNA) earlier this week, the communist state said it is working on developing rare earth minerals for economic growth.
"An effective utilization of rare earth minerals is of weighty significance in economic growth," the report said, quoting Kim Hung-ju, vice department director of the North's Ministry of State Resource Development.
"The DPRK government has paid much effort to the exploitation and utilization of rare earth minerals," it said, referring to North Korea by the acronym of its official name, the Democratic People's Republic of Korea.
The report added that there are large deposits of high-grade rare earth minerals in the western and eastern parts of the country, where prospecting work and mining have already begun. It also said the rare earth elements are being studied in scientific institutes, while some of the research findings have already been introduced in economic sectors.
The article follows another KCNA report in July 2009 that described North Korean leader Kim Jong-il's inspection of a semiconductor materials plant, saying he stressed the importance of producing more rare earth metals.
Until now, North Korea's official media have mostly reported on the use of rare earth minerals in medicine and fertilizers. But its new focus on developing and using the materials appears to stem from the country's interest in selling the metals for a high price on the international market, according to experts.
Rare earth elements are becoming increasingly expensive, as China, the world's largest rare earth supplier, puts limits on its output and exports.
"It appears that North Korea only recently started taking an interest in rare earth materials," said Choi Gyeong-su, head of the North Korea Resources Institute in Seoul. "The country does not have the technology to even determine the exact amount of its reserves, so it doesn't seem likely anytime soon that the rare earth materials will be used to produce goods for the high-tech industry."
