Shocking Details of Wealth in North Korea

Of course, there are no official reports of how much North Korea truly possesses, but according to close estimates, coal deposits, iron mineral, Zink, copper, graphite, gold, silver, magnesium, MoiBden, and many others are worth between $6 trillion to $10 trillion U.S. dollars, according to quantum South Korean projections, writes Businessender, the Oranews.

Before the collapse of the Soviet Union, North Korea had given priority to mining and trade with other Communist partners. But the mining industry has been on the decline since the early 1990s, due to decades of neglect and lack of funds for infrastructure development to support mining activities.

Now the mining trade in North Korea is under a complete ban by the United Nations following nuclear missile tests in recent months.

The UN began to ban metal trade last year, but there have been reports that the Kim Jong-Un regime has increasingly committed to avoiding sanctions.

The UN decided last month on full ban on coal, iron and iron ore from North Korea, while in November last year it banned trade in copper, nickel, silver and black.

China also implemented the ban on imports of coal, cutting off an important economic cord of the regime. Coal trade has produced over $1 billion in revenues annually for North Korea, the US Treasury Department said in late August.

North Korea has considerable deposits of minerals. Its magnesium reserves are the largest in the world after China, and its Tungsten deposits are likely to be the largest in the world, according to Lloyd R. Vasey, founder and senior policy adviser at the Centre for Strategic and International Studies (CSIS).

North Korea sits in considerable deposits of more than 200 different minerals, and “all have potential for developing large-scale mines“, Vasey said.