Yonhap reported that North Korea's exports of mineral resources recorded a 33 fold jump over the past decade with China remaining the biggest importer of the North's iron ore and coal.

According to the report by Seoul's Korea Trade and Investment Promotion Agency, North Korea's mineral exports stood at a meager USD 50 million in 2001, accounting for 7.8% of its total exports.

The report said that the mineral exports soared to USD 243 million in 2005 and USD 1.65 billion in 2011, accounting for 59.4% of the North's total exports last year.

Korea has estimated the total values of mineral deposits in North Korea at some USD 6.3 trillion.

Last year, North Korea exported USD 1.17 billion worth of anthracite coal and USD 405 million worth of iron ore, with China importing almost 100 percent of anthracite coal and iron ore.

North Korea, which has been under international sanctions over its nuclear and missile programs, has allowed Chinese firms to explore its mineral deposits.

Source - Yonhap

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