North Korea increases coal supplies to China for investments

SEOUL, August 4 (Itar-Tass) -- North Korea has drastically increased
the coal supplies to China that resulted in a broader barter trade between
the two countries and a lower affect from international pressure on
Pyongyang.
North Korea's growing coal supplies point to growing investments of
Chinese companies in the North Korean coal mining industry and the export
growth of Chinese industrial equipment in this country, sources in Seoul
admitted on Tuesday. "Chinese corporations, which are interested in the
extraction of North Korean mineral resources, are operating at many
coalmines in North Korea. In exchange they are ready to increase supplies
of oil and equipment in North Korea that represents the barter trade," the
sources said.
In the first half of this year North Korea's anthracite supplies in
China increased by 111% to reach 2.3 million tons. The peak of this export
fell on June, when North Korea delivered 646,000 tons of coal to China
that is 244% higher than for the same month in 2008. North Korea's coal
supplies to China account for 68% of North Korea's export in this country
in 2009.
In exchange China has exported 50,000 tons of crude oil to North Korea
since last December. These supplies totaled over 294,000 tons for the last
half of the year. Meanwhile, Pyongyang lures actively Chinese business to
create joint ventures in the country, make investments in various branches
of economy, taking advantage of China's interests in North Korean raw
materials.
-0-baz/ast