South Korea to Invest US$6m in Minerals

South Korean energy company Korea Resources Corp (KORES) has announced plans to invest about US$6m in overseas mining projects to secure future energy supplies to the country.

The company says it will work with local private companies to secure uranium, copper and other resources within the next eight years.

KORES aims to secure mining exploration deals with South Africa, Zimbabwe and Zambia this year, a spokesperson told news agency AFP.

The company also hopes to gain exploration projects in Central and South America, with specific plans to expand its investments for copper in Peru, Bolivia and Mexico.

KORES plans to invest about US$1.8bn in new projects with the rest expected to come from private companies.

By staff writer