Gold Mining
In gold alone the nation is estimated to hold around 2,000 metric tonnes of reserves, with a current value of around $100 billion. Other available resources include iron, with 5 billion tonnes of 50% iron-content ore in reserve, nickel, with 36,000 tonnes of the pure metal, and zinc metal, with around 21,100,000 tonnes.
The Daebong Mine, located on the border of Gapsan and Woonheung in Yanggang Province, produced more than 150 kilograms (kg) (4,823 troy ounces) of gold annually. Further improvements are proposed in this mine with Chinese investment under a package of offer of mineral rights in exchange for capital investment in the mine.
The Sangnong Mine, in the Dancheon district of Hamgyeongnam-do is in operation since 1956 and is an underground mine. The mine also extracts pyrite, chalcopyrite, magnesite, native gold, and native silver. In 2008, the annual production was reported as 290,000 tons of concentrate at a grade of 30g/t. To process the low-grade concentrate of the Sangnong Mine, the Dongdae Custom Mill Plant (located in Dancheon city) has been established. This plant has processed twenty million tons of tailings and the waste piled up in the yard of the plant has still a gold pf grade of 1.44g/t.
The Holdong Mine in the Holdong labor district in Yeonsan-gun, Hwanghaebuk-doce is in operation since 1893. Gold and other ores are found in a strike of 1,200 metres (3,900 ft) strip. The plant has capacity for handling annually of 2 tonnes of gold, 2.5 tonnes of silver, and 80,000 tonnes of copper concentrate. In 1991, the mine recorded a production of 0.85 tonnes of gold, 1.674 tonnes of silver, and 893 tonnes of copper concentrate.
Read more about this topic: Mining In North Korea
Famous quotes containing the words gold and/or mining:
“But tell me: how did gold get to be the highest value? Because it is uncommon and useless and gleaming and gentle in its brilliance; it always gives itself. Only as an image of the highest virtue did gold get to be the highest value. The giver’s glance gleams like gold. A golden brilliance concludes peace between the moon and the sun. Uncommon is the highest virtue and useless, it is gleaming and gentle in its brilliance: a gift- giving virtue is the highest virtue.”
—Friedrich Nietzsche (1844–1900)
“Any relation to the land, the habit of tilling it, or mining it, or even hunting on it, generates the feeling of patriotism. He who keeps shop on it, or he who merely uses it as a support to his desk and ledger, or to his manufactory, values it less.”
—Ralph Waldo Emerson (1803–1882)