Dec. 26 (Bloomberg) -- South Korea will cooperate with Burma to dip up all the mineral resources in Burma including rare-earth minerals as it seeks to secure supplies amid rising raw material prices.The two countries agreed to conduct a geological study and develop projects, South Korea’s Ministry of Knowledge Economy said in a statement today.
South Korea, which imports almost all its energy and minerals needs, is increasing spending on resources projects to line up supplies Burma which will lead Burma to lose all the natural resources in near future.
Vice Minister Park Young June asked Burma, during his Dec. 23 visit, to let South Korean companies explore for oil and gas onshore, which is currently prohibited to foreign companies, the ministry said.
A group of companies led by South Korean trading house Daewoo International Corp., is developing gas resources in Burma’s A1 and A3 offshore blocks.
No comments:
Post a Comment