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US plans to sanction & threaten war for rare earth concessions for the DPRK has backfired: North Korea to give China right to mine rare earths in return for investment in solar plants – report
One of the main reasons for the US pressure against North Korea was to force it to abandon its Chinese allies. They wanted to control North Korea because of its land, and air, and sea proximity to China. Another reason was/is for the untapped oil and gas reserves.
You should also know that the US wants to control the untapped uranium, plutonium, silver, & gold mines. But even above that, once North Korea was proven to have the world’s second largest rare earth reserves (Second after China), the US felt that if they could acquire these mines they could do away with being reliant on China and in one fell swoop, they could deploy business, warships, troops, and missile systems in a ‘liberate’ North Korea and hold the Chinese and it’s rising economy hostage at the barrel of multiple guns.
See Here:
Billions in the Ground: The Race to Harvest North Korea’s …
North Korea is sitting on $6 trillion-$10 trillion of untapped …
North Korea to give China right to mine rare earths in return for investment in solar plants – report
According to the Association of China Rare Earth Industry, building a solar power plant capable of producing 2.5 million kilowatts of electricity each day in inland areas like North Pyongan would cost around $2.5 billion. China’s reward for investing would be mining rights to a rare earth mine on the province’s borders.
A source close to the Chinese rare earth industry told Reuters that this type of agreement is “wishful thinking” on behalf of North Korea. The source was skeptical about the real level of Chinese interest in the project.
ALSO ON RT.COMWhat are rare earth metals & why they are China’s ‘nuclear option’ in trade war with US“Investing in North Korea is not safe. Its international reputation is poor and many companies will not necessarily be interested,” the source said.
UN Security Council resolution 2270, adopted shortly after North Korea’s fourth nuclear test in 2016, bans the country’s exports of gold, titanium ore, vanadium ore, and rare earth minerals.
Rare earths or rare metals are a group of 17 chemical elements with special characteristics. They are actually not rare, despite their name, but they are difficult to find in desirable concentrations and are hard to process, as the ores often contain naturally occurring radioactive materials such as uranium and thorium.
ALSO ON RT.COMUS & Australia to unveil rare earths plan to challenge China’s dominanceMetals and alloys that contain them are used in many devices that people use every day, such as computers, DVDs, rechargeable batteries, cell phones, catalytic converters, magnets, and fluorescent lighting.
The escalating US-China trade conflict has raised concerns about the measures each side could end up taking, including Beijing’s option to restrict the export of rare earth metals. This is considered one of Beijing’s nuclear options in its battle with Washington, as China is the world’s top producer of rare earth metals and holds the largest reserves.
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