North Korea’s exports of mineral resources recorded a 33-fold jump over the past decade with China remaining the biggest importer of the North’s iron ore and coal, a report showed.
North Korea’s mineral exports stood at a meager $50 million in 2001, accounting for 7.8 percent of its total exports, according to the report by Seoul’s Korea Trade and Investment Promotion Agency.
The mineral exports soared to $243 million in 2005 and $1.65 billion in 2011, accounting for 59.4 percent of the North’s total exports last year, the report said.
South Korea has estimated the total values of mineral deposits in North Korea at some $6.3 trillion.
Last year, North Korea exported $1.17 billion worth of anthracite coal and $405 million worth of iron ore, with China importing almost 100 percent of anthracite coal and iron ore, it said.
North Korea, which has been under international sanctions over its nuclear and missile programs, has allowed Chinese firms to explore its mineral deposits. (Yonhap News)
