#Aljazeera: China plans to tap North Korean rare earth mine – Report

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North Korea plans to grant China access to a rare earth mine in exchange for investment in solar energy that could ease chronic power shortages in the impoverished country, according to an article posted on an industry association website on Thursday.

China is the world’s dominant producer of rare earths, a group of 17 chemical elements prized for their use in consumer electronics and military equipment, but neighbouring North Korea is believed to have significant untapped rare earth resources.

Putting the cost of a 2.5 million kilowatt-hour per day solar plant in North Korea at about $2.5bn, the report on the website of the Association of China Rare Earth Industry said China’s reward for investing would be mining rights to a rare earth mine in North Pyongan province on its borders.

Read more at: https://www.aljazeera.com/ajimpact/china-plans-tap-north-korean-rare-earth-report-191024063540106.html

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