N. Korea Grants China Exclusive Rights to Explore Buried ResourcesUpdated: 2012-09-25 12:00:00 (KST)
North Korea has granted China exclusive rights to explore ALL of its underground resources in its latest attempt to use foreign assistance to boost its economy.
The Investment and Development Group of North Korea says China's state-run Dongbei[둥베이] Exploration Group will provide the funding and infrastructure necessary to explore and map the locations of North Korea's resources.
China's Ministry of Commerce approved the plans last week, so the project is likely to begin in the near future.
The deal comes after Beijing's top 100 companies reached an agreement with Pyongyang to invest five billion U.S. dollars into North Korean mines.
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