A recent geological study indicates North Korea could hold some 216 million tons of rare earths, minerals used in electronics such as smartphones and high definition televisions.
If verified, the discovery would more than double global known sources and be six times the reserves in China, the market leader.
British Islands-based private equity firm SRE Minerals Limited announced the study results in December, along with a 25-year deal to develop the deposits in Jongju, northwest of the capital, Pyongyang.
The joint venture, called Pacific Century Rare Earth Mineral Limited, is with state-owned Korea Natural Resources Trading Corporation.
The potential bonanza could offer the isolated and impoverished North a game-changing stake in the rare earths industry.
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