Friday, June 22, 2018

US Covets North Korea's Mineral Wealth

Does this revelation from Pepe Escobar sound familiar?

This may not be about condos on North Korean beaches after all. Arguably, the heart of the matter in the Trump administration’s embrace of Kim Jong-un has everything to do with one of the largest deposits of rare earth elements (REEs) in the world, located only 150 km northwest of Pyongyang and potentially worth billions of US dollars.

All the implements of 21st century technology-driven everyday life rely on the chemical and physical properties of 17 precious elements on the periodic chart also known as REEs.

Currently, China is believed to control over 95% of global production of rare earth metals, with an estimated 55 million tons in deposits. North Korea for its part holds at least 20 million tons.

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Once again, the fate of millions (billions?) of people hinges on what the US can steal from someone.

This would be funny if it were not so sad and predictable.

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