North Korea is sitting on $6 trillion in mineral resources

 

So Rocket Man, Chairman Kim Jong Un, has a whole lot of stuff sitting under his earth’s crust. While everyone depicts North Korea as this down and out country, it turns out the story is far more complicated with Billions of dollars worth of rare earth minerals for one. It has been claimed that it would be such burden for South Korea should these two ever get together. Not true apparently. Plus it has beautiful beaches that Trump would love to develop!:

 

It has long been regarded as a poor country.

But as it turns out North Korea is a lot richer than we thought, or at the very least has the potential to be.

North Korea has mineral resources estimated to be worth at least $6 trillion, according to Quartz, and the secretive state is sitting on a vast array of mineral resources which remains largely untapped including iron, gold, magnesite, zinc, copper, limestone, molybdenum and graphite.

Its bedrock also holds a large amount of metals needed to make smartphones and other technological products.

But while the isolated nation might be rich in underground resources, taking advantage of the buried treasure this remains another issue.

But a 2012 estimate by a South Korean research institute valued its mineral wealth as high as $10 trillion, The Economist reported.

More at  New York Post

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China Said to Widen Its Embargo of Minerals

Rare Earth Elements

There are 17 elements located in the Earth’s crust, and just as vital as energy in keeping our technology ticking. This story has been buried. With the upcoming election, it has received scant notice. China, now starts flexing its muscle. Only the beginning I fear. Keep you eye out on this one.

China mines 95 percent of the world’s rare earth elements, which have broad commercial and military applications, and are vital to the manufacture of products as diverse as cellphones, large wind turbines and guided missiles.

Today, fears about Chinese supplies of vital rare earth elements have sent the shares of small mining companies soaring, a surge that executives and analysts warn is turning into a bubble.

China, which has been blocking shipments of crucial minerals to Japan for the last month, has now quietly halted some shipments of those materials to the United States and Europe, three industry officials said this week.

China, responsible for about 97 percent of global rare earth production, has cut exports of the minerals used in high-tech goods from PCs to electric cars, driving up prices of the commodities and creating a worldwide hunt for other sources. More at CNBC

Any curtailment of Chinese supplies of rare earths is likely to be greeted with alarm in Western capitals, particularly because Western companies are believed to keep much smaller stockpiles of rare earths than Japanese companies.

 More here at the NY Times

Obama Eyes Western Land for National Monuments

Another 13 million acres? When is enough, enough? 
 No legislation needed.
Upwards to 40 percent of the United States land is already under some form of government control or ownership — 800 million to 900 million acres out of America’s total 2.2 billion acres.A disturbing report out from Fox News this afternoon:

More than a dozen pristine landscapes, wildlife habitats and scenic rivers in 11 Western states, some larger than Rhode Island and Delaware combined, are under consideration by the Obama administration to become America’s newest National Monuments — a decision the administration can make unilaterally without local input or congressional approval.

According to internal Department of Interior documents leaked to a Utah congressman and obtained exclusively by Fox News, the mostly public lands include Arizona deserts, California mountains, Montana prairies, New Mexico forests, Washington islands and the Great Basins of Nevada and Colorado — totaling more than 13 million acres.

For a list of monuments  he has in mind go to the link here at

Fox News

Many of the areas under consideration by the Obama administration are known to house rich deposits of oil and natural gas.  Given the nation’s growing dependence on foreign sources of energy, it seems like it’d be a pretty bad move for the president to use his executive power to tie up these lands via the Antiquities Act–a measure generally intended to preserve historic landmarks.  Percent of Federal Land own in Western States:

  1. Nevada           84.5%
  2. Alaska            69.1%
  3. Utah               57.4%
  4. Oregon           53.1%
  5. Idaho              50.2%
  6. Arizona           48.1%
  7. California        45.3%
  8. Wyoming         42.3%
  9. New Mexico     41.8%
  10. Colorado          36.6%

Take a look at what Utah is doing about it: They want Lands returned to States: https://bunkerville.wordpress.com/2010/02/18/utah-lawmakers-want-federal-land-returned-to-state/
http://townhall.com/blog/g/8703b902-ee5c-4fb5-bb56-e7c1a2cfed4a

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