{"id":8996,"date":"2012-03-16T15:15:26","date_gmt":"2012-03-16T13:15:26","guid":{"rendered":"http:\/\/www.myza.co.za\/03\/update-1-korea-resources-says-to-invest-532-mln-in-overseas-projects\/"},"modified":"2012-03-16T15:15:26","modified_gmt":"2012-03-16T13:15:26","slug":"update-1-korea-resources-says-to-invest-532-mln-in-overseas-projects","status":"publish","type":"post","link":"https:\/\/www.myza.co.za\/press\/update-1-korea-resources-says-to-invest-532-mln-in-overseas-projects\/","title":{"rendered":"UPDATE 1-Korea Resources says to invest $532 mln in overseas projects"},"content":{"rendered":"<p>\t\t<span><\/span><\/p>\n<p>* KORES looking to acquire coal mine stakes in Indonesia,<br \/>\nN.America<span><\/span><\/p>\n<p><span><\/span><\/p>\n<p>* In talks with Mongolia, Russia over Tavan Tolgoi stake<\/p>\n<p><span><\/span><\/p>\n<p>By Cho Mee-young<\/p>\n<p><span><\/span><\/p>\n<p>SEOUL, March 16 (Reuters) &#8211; Korea Resources Corp<br \/>\n(KORES) said on Friday that it plans to invest at<br \/>\nleast 600 billion won ($532 million) this year in overseas<br \/>\nresources projects, and is looking to acquire stakes in<br \/>\nbituminous coal mines in Indonesia and North America.<\/p>\n<p><span><\/span><\/p>\n<p>Kim Shin-jong, president and chief executive of the state<br \/>\nrun resource developer, said KORES, which invested nearly 780<br \/>\nbillion won in overseas acquisitions last year, aimed to shore<br \/>\nup the country&#8217;s self-sufficiency level for six major minerals<br \/>\nto 50 percent by 2020.<\/p>\n<p><span><\/span><\/p>\n<p>Kim also said the company was in talks with Mongolia and<br \/>\nRussia to take a bigger stake in Mongolia&#8217;s Tavan Tolgoi coal<br \/>\nproject, noting that a deal was unlikely to be finalised before<br \/>\nJune because of a general election in Mongolia.<\/p>\n<p><span><\/span><\/p>\n<p>KORES has been leading South Korea&#8217;s drive to increase<br \/>\nself-sufficiency in key mineral resources such as iron ore,<br \/>\ncoal, copper and rare metals to feed its manufacturing-based<br \/>\neconomy, ranked Asia&#8217;s fourth-largest.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;It is the right time to invest and South Korea needs such<br \/>\ninvestments,&#8221; Kim told reporters, noting that energy and<br \/>\nresources prices were recovering after hitting lows in late<br \/>\n2008.<\/p>\n<p><span><\/span><\/p>\n<p>&#8220;We should secure at least 50 percent of our supply from our<br \/>\nown production to guarantee stability,&#8221; Kim said<br \/>\n\u00a0 <span class=\"label\"><strong>Continued&#8230;<\/strong><\/span><\/p>\n<p><span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>* KORES looking to acquire coal mine stakes in Indonesia, N.America * In talks with Mongolia, Russia over Tavan Tolgoi stake By Cho Mee-young SEOUL, March 16 (Reuters) &#8211; Korea Resources Corp (KORES) said on Friday that it plans to invest at least 600 billion won ($532 million) this year in overseas resources projects, and [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","ngg_post_thumbnail":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[1],"tags":[830,2370,183],"class_list":{"0":"post-8996","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-south-africa","7":"tag-news","8":"tag-reuters","9":"tag-south-africa-2","10":"entry"},"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8996","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/comments?post=8996"}],"version-history":[{"count":0,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/posts\/8996\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/media?parent=8996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/categories?post=8996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.myza.co.za\/press\/wp-json\/wp\/v2\/tags?post=8996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}