S Korea firms seek six billion dollar mining, energy projects
Tuesday, 18 March 2008
SEOUL, March 17 (AFP): South Korea plans to invest about six billion dollars in overseas mining and energy projects to secure stable supplies for the resource-poor nation, a state minerals explorer said today.
Korea Resources Corp (KORES) said it would work with local private companies to secure uranium, copper and other resources within the next eight years.
"The planned investment is part of our efforts to secure a stable supply of mineral resources," a spokesman told AFP.
The world's 13th largest economy imports 97 per cent of its energy and mineral needs and is striving to diversify and safeguard its sources amid rising world prices.
KORES currently operates 20 projects mostly in Australia, China and Canada. It plans to invest about 1.8 billion dollars with the rest of the total coming from private companies, the spokesman said.
Korea Resources Corp (KORES) said it would work with local private companies to secure uranium, copper and other resources within the next eight years.
"The planned investment is part of our efforts to secure a stable supply of mineral resources," a spokesman told AFP.
The world's 13th largest economy imports 97 per cent of its energy and mineral needs and is striving to diversify and safeguard its sources amid rising world prices.
KORES currently operates 20 projects mostly in Australia, China and Canada. It plans to invest about 1.8 billion dollars with the rest of the total coming from private companies, the spokesman said.