Launch of Gwanghae Mining Corporation... Supporting Mining Exploration to Restoration
The Korea Mine Reclamation Corporation, which merged the Korea Resources Corporation and the Korea Mine Reclamation Corporation, officially launched on the 15th.
View original image[Sejong=Asia Economy Reporter Kwon Haeyoung] The Korea Mining and Resources Corporation, formed by merging the Korea Resources Corporation and the Korea Mine Reclamation Corporation, has officially launched. The Mining and Resources Corporation will be responsible for mining exploration, development, production, and reclamation support.
According to the Mining and Resources Corporation on the 17th, Hwang Gyuyeon, the corporation's first president, expressed his aspirations at the launch event held recently at the main auditorium of the Wonju headquarters, stating, "We will establish ourselves as an innovative specialized institution in mine reclamation and mining that supports the stable supply and demand of the nation's key minerals and leads the development of mining areas and resource security."
He emphasized, "With the establishment of the corporation, all streams of mining?including mineral resource exploration, development planning and design, production, mine reclamation, and mining area development?are now connected as one," adding, "We will focus on serving as a platform encompassing the entire mining lifecycle, from reclamation to mining."
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The corporation will handle tasks including mine reclamation and restoration, coal industry support, briquette subsidies for low-income households, loans for alternative industries in abandoned mining areas, support for private mineral resource development, development fund loans, and mineral stockpiling and trading. Instead of direct investment in overseas resource development, the corporation plans to expand stockpiling of rare metals and strategic minerals such as rare earth elements to secure a stable supply chain of key minerals used in the Fourth Industrial Revolution materials.
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