Author Topic: North Korea is sitting on a stockpile of minerals worth trillions  (Read 861 times)

Offline Ms.Independence

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Interesting ... I had no idea! Too poor to develop their own wealth.  I can think of a couple of people who would be more than willing to help them out.

North Korea is sitting on a stockpile of minerals worth trillions

......Embedded deep beneath the country's mountainous zones are some 200 varieties of minerals, including gold, iron, copper, zinc, magnesite, limestone, tungsten, and graphite, Quartz reports.

Some of these stockpiles are among the largest in the world, and North Korea, a tiny and cash-strapped nation, frequently uses them to bring in additional revenue — no matter the laws against doing so. .....

The total value of these minerals lies somewhere between $6 trillion and $10 trillion.

But the country is too poor to create the infrastructure needed to export the minerals — at least in large enough quantities to make a dent in its overall wealth. Still reliant on China, South Korea, and Russia for its financial and energy needs, North Korea has only made small deals with neighboring countries........

https://www.aol.com/article/finance/2017/06/29/north-korea-is-sitting-on-a-stockpile-of-minerals-worth-trillion/23008501/?ncid=txtlnkusaolp00000058&
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Offline je_freedom

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Re: North Korea is sitting on a stockpile of minerals worth trillions
« Reply #1 on: July 01, 2017, 12:34:39 PM »
North Korea is sitting on a stockpile of minerals worth trillions

......Embedded deep beneath the country's mountainous zones are some 200 varieties of minerals, including gold, iron, copper, zinc, magnesite, limestone, tungsten, and graphite, Quartz reports.

Some of these stockpiles are among the largest in the world, ...

So I suppose that means that China will soon be taking over...
Extremism in the defense of liberty is no vice. And moderation in the pursuit of justice is no virtue.
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Online Solar

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Re: North Korea is sitting on a stockpile of minerals worth trillions
« Reply #2 on: July 01, 2017, 12:55:19 PM »
I have to take issue with this article as "Fake News", if for no other reason than to point out, mining is a mostly labor intensive industry, especially gold and other precious minerals.
I live in Calif gold country, I mine a considerable amount myself. Just around the corner from my land is the Atlanta/Alhambra and Timm mines, all mining is done with manual labor and blasting.

They are still doing it the very same way they did over 100 years ago, with the exception of powered carts to haul ore out instead of mules.
Granted some minerals may be too deep for conventional mining techniques, but if that is the case, how can they be sure minerals are down there in the first place?
I do remember seeing a lot of old gold mines in SK when I was there, and Korean gold is one of the purest to come out of the ground this side of Africa, but wouldn't SK be one of the wealthiest nations if this story were actually true considering proximity, they are on the same peninsula after all.
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Offline Ms.Independence

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Offline quiller

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Re: North Korea is sitting on a stockpile of minerals worth trillions
« Reply #5 on: July 02, 2017, 07:35:09 AM »
Now, try the same search using other nations. It's just a matter of risk and investment.
Hell, Ca sits on ten thousand years of rich shale oil, but the state won't allow it to be tapped.

Not if they have to share any revenue with the rest of America! Hell, the way the way they're goiing, they blow all the U.S. money however they want, then go bankrupt like say Puerto Rico --- then break away as a debt-free new nation, imposing HOW much import taxes?..... Greed will kill California either way. Get out while you still can.

Online Solar

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Re: North Korea is sitting on a stockpile of minerals worth trillions
« Reply #6 on: July 02, 2017, 10:23:12 AM »
Not if they have to share any revenue with the rest of America! Hell, the way the way they're goiing, they blow all the U.S. money however they want, then go bankrupt like say Puerto Rico --- then break away as a debt-free new nation, imposing HOW much import taxes?..... Greed will kill California either way. Get out while you still can.
I'm counting on collapse.
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Offline Ms.Independence

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Re: North Korea is sitting on a stockpile of minerals worth trillions
« Reply #7 on: July 02, 2017, 11:47:35 AM »
Now, try the same search using other nations. It's just a matter of risk and investment.
Hell, Ca sits on ten thousand years of rich shale oil, but the state won't allow it to be tapped.

CO also has an abundance of shale oil as well.  However, it was my understanding that to refine it would be costly, but IMHO, a small price to pay for energy independence.
When in the Course of human events, it becomes necessary for one people to dissolve the political bands which have connected them with another...Governments are instituted among Men, deriving their just powers from the consent of the governed...

Online Solar

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Re: North Korea is sitting on a stockpile of minerals worth trillions
« Reply #8 on: July 02, 2017, 12:42:25 PM »
CO also has an abundance of shale oil as well.  However, it was my understanding that to refine it would be costly, but IMHO, a small price to pay for energy independence.
I did a little sleuthing and found this article was generated by one firm called Quartz, and appears to be motivated by a 'two Korea's United coalition'.
In other words, it's politically motivated, not driven by a need for resources, rather targeting Kim's greed for wealth in hopes that he'll allow a more open economy through trade, meaning he would have to back off on his war rhetoric.

It was a valiant effort, but one I doubt will work. I also assume it was directed at those that control the little puppet, in hopes of convincing them they too could become rich, again, they are communist ideologues, so I doubt it will influence their behavior.
Hey, but one never knows.
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Offline je_freedom

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Re: North Korea is sitting on a stockpile of minerals worth trillions
« Reply #9 on: July 05, 2017, 10:34:00 PM »
I did a little sleuthing and found this article was generated by one firm called Quartz, and appears to be motivated by a 'two Korea's United coalition'.
In other words, it's politically motivated, not driven by a need for resources, rather targeting Kim's greed for wealth in hopes that he'll allow a more open economy through trade, meaning he would have to back off on his war rhetoric.

I doubt that it would work on the "Dear Leader."
He seems to be motivated not much by greed,
but more by a sadistic lust for power.

Quote
It was a valiant effort, but one I doubt will work. I also assume it was directed at those that control the little puppet, in hopes of convincing them they too could become rich, again, they are communist ideologues, so I doubt it will influence their behavior.
Hey, but one never knows.

Nobody controls Kim Jong Un.
When he orders someone to be executed by artillery at point blank range,
his servants carry out the order,
terrified that they might be accused of
carrying out the order with insufficient fanaticism.
(Which is also the case with political correctness in today's U.S. military,
but that's another subject.)

"Communist ideologue" implies ideology, which implies thought,
which is not tolerated in North Korea.
The little dictator (just like his father and grandfather)
is not an ideologue, like Stalin or Mao.
He is much more like Jim Jones.
The regime in North Korea is not a government, it's a cult!
Extremism in the defense of liberty is no vice. And moderation in the pursuit of justice is no virtue.
-- Barry Goldwater

 

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