China to Sign Deal to Mine North Korean Rare Earths, Yonhap Says
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China and North Korea are expected to sign a deal to jointly mine and process the North’s reserves of metals including rare earths and gold, South Korea’s Yonhap News Agency reported, citing a person with knowledge of the deal.
The agreement is likely to be signed between China’s Commerce Ministry and North Korea’s Joint Venture Investment Committee on Feb. 15, or one day before the birthday of the North’s leader Kim Jong Il, the Feb. 6 report said. The deal may include setting up a joint venture company in Hong Kong, Yonhap said.