patrick.net

North Korea is sitting on trillions of dollars of untapped wealth, and its neighbors want in Below the nation’s mostly mountainous surface are vast mineral reserves, including iron, gold, magnesite, zinc, copper, limestone, molybdenum, graphite, and more—all told about 200 kinds of minerals. Also present are large amounts of rare earth metals, which factories in nearby countries need to make smartphones and other high-tech products.

Estimates as to the value of the nation’s mineral resources have varied greatly over the years, made difficult by secrecy and lack of access. North Korea itself has made what are likely exaggerated claims about them. According to one estimate from a South Korean state-owned mining company, they’re worth over $6 trillion. Another from a South Korean research institute puts the amount closer to $10 trillion.

China particularly covets North Korea’s rare earth minerals. Pyongyang knows this. It punished Beijing in March by suspending exports of the metals to China in retaliation for the coal trade restrictions.

Meanwhile Russia, which also shares a (smaller) border with North Korea, in 2014 developed plans to overhaul North Korea’s rail network in exchange for access to the country’s mineral resources.

But South Korea has its own plans for the mineral resources. It sees them as a way to help pay for reunification (should it finally come to pass), which is expected to take decades and cost hundreds of billions or even trillions of dollars. (Germany knows a few things about that.)

More: https://qz.com/1004330/north-korea-is-sitting-on-trillions-of-dollars-on-untapped-wealth-and-its-neighbors-want-a-piece-of-it/

Also At: http://www.news.com.au/finance/economy/world-economy/north-korea-could-actually-be-a-rich-nation-if-kim-jongun-wanted-it-to-be/news-story/5a810d2990cb9d245858761c1480aec7

Tell me again - with great alacrity how Russia and China will mill about smartly and do nothing, should the U.S. decide to do something stupid on the peninsula. Or will it be the story about the U.S. etc. being so benevolent we just want to help them improve their economy and country to bring them into the 21st century.....and export our own "special" brand of democracy.

If you tell me however that certain interests in the U.S. and assorted cronies have their eyes on this prize and are scheming how to get it, plunder and lay waste to the countryside and will use any ruse available to do so - that I would believe.

Don't fall for the distractions coming out of Washington, there is a side show going on behind your backs when you are not looking and when you finally decide to take your eyes away from the screen, you are not going to like what you see...

#NorthKorea #MineralWealth #RareEarthMinerals