North Korea the world's largest rare earth deposits found

SRE Minerals recently announced trade in natural resources company with North Korea (Korea Natural Resources Trading Corporation) signed a joint venture agreement to set up a new call Pacific Century Rare Earth Mineral Limited , a joint venture , registered in the British Virgin Islands.

The joint venture company the right to develop Jongju rare earth deposits for a period of 25 years , subject to mutual agreement can be extended for 25 years. Jongju rare earth deposit located in the northeast of the North Korean capital of Pyongyang is about 150 kilometers, is allegedly the world's largest rare earth deposits . Meanwhile , SRE company also received the power to build a rare earth processing plant .

HDR Salva Resources Enterprise Limited is an Australian mining and geological consulting company is the technical representative of the project, the mine was assessed. Preliminary assessment results show that the total amount of 6 billion tons of mineral potential , totaling 216.2 million tons of rare earth oxides , including lanthanum, cerium and praseodymium and other light rare earths , mainly cerium associated apatite and rare earth minerals . 216.2 million tons of rare earth oxides containing about 2.6% more valuable heavy rare earth elements , about 5.45 million tons .

Australian Institute of Mining and Metallurgy, is also a leading scientist of the project , said Dr. Louis Schurmann , Jongju is the world's largest rare earth deposit targets .

Theoretically , Jongju deposit of 216 million tons worth trillions of dollars , is expected to present the world's known resources of rare earth oxides doubling .

Company noted that the DPRK Academy of geologists have identified several heavy rare earth elements target, and seven new carbonate complexes. SRE company plans to undertake further exploration in 2014 , including 96,000 meters ( a ) and 120,000 meters ( two ) core drilling .


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