North Korea found a world-class rare earth mine

SREMinerals company recently announced a partnership with the Korean trade in natural resources companies (KoreaNaturalResourcesTradingCorporation) signed a joint venture agreement to establish a new joint venture company called PacificCenturyRareEarthMineralLimited , 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, the project is also a leading scientist Dr. LouisSchurmann said , Jongju is the world's largest rare earth deposit targets .


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